Simply Good Foods (NASDAQ:SMPL) Reaches New 52-Week Low - What's Next?

Key Points

• Simply Good Foods (NASDAQ:SMPL) shares hit a new 52-week low of $27.81, marking a significant decline from its previous closing price of $28.45.
• Brokerages have downgraded their price targets for Simply Good Foods, with consensus now at $39.88 and ratings ranging from "Buy" to "Neutral."
• CEO Geoff E. Tanner purchased 6,050 shares at approximately $33.11 each, increasing his ownership stake, which now represents about 9.35% of the company's total stock.

Shares of The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $27.91 and last traded at $27.81, with a volume of 23163 shares trading hands. The stock had previously closed at $28.45.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SMPL. DA Davidson decreased their price target on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Mizuho decreased their price target on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, July 15th. UBS Group set a $36.00 price target on Simply Good Foods and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Citigroup decreased their price target on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Finally, Stifel Nicolaus decreased their target price on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Simply Good Foods presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.88.

Simply Good Foods Stock Performance

The company has a market cap of $2.77 billion, a PE ratio of 19.27, a PEG ratio of 2.63 and a beta of 0.59. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $30.70 and a 200-day moving average of $33.47.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $380.96 million for the quarter, compared to analysts' expectations of $381.68 million. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.Simply Good Foods's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insider Activity

In related news, CEO Geoff E. Tanner bought 6,050 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were bought at an average price of $33.11 per share, with a total value of $200,315.50. Following the completion of the transaction, the chief executive officer directly owned 98,190 shares in the company, valued at approximately $3,251,070.90. This represents a 6.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SMPL. Yousif Capital Management LLC lifted its stake in Simply Good Foods by 1.0% in the second quarter. Yousif Capital Management LLC now owns 34,173 shares of the financial services provider's stock worth $1,080,000 after purchasing an additional 341 shares during the last quarter. California State Teachers Retirement System grew its position in Simply Good Foods by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider's stock worth $2,795,000 after acquiring an additional 383 shares during the last quarter. Xponance Inc. grew its position in Simply Good Foods by 5.8% during the 1st quarter. Xponance Inc. now owns 7,325 shares of the financial services provider's stock worth $253,000 after acquiring an additional 402 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its position in Simply Good Foods by 3.1% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 16,212 shares of the financial services provider's stock worth $559,000 after acquiring an additional 484 shares during the last quarter. Finally, Van Hulzen Asset Management LLC grew its position in Simply Good Foods by 1.4% during the 1st quarter. Van Hulzen Asset Management LLC now owns 36,886 shares of the financial services provider's stock worth $1,272,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.

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