Simply Good Foods (NASDAQ:SMPL) Sets New 1-Year Low - What's Next?

Key Points

• Simply Good Foods (NASDAQ: SMPL) reached a new 52-week low of $28.63 during trading, reflecting concerns about its stock performance, which dropped from a previous close of $29.45.
• Analysts are adjusting their ratings, with Citigroup reducing their price target from $43 to $40 while maintaining a "buy" rating, and overall, the stock maintains a consensus target price of $39.88.
• CEO Geoff E. Tanner increased his stake in the company by acquiring 6,050 shares at an average price of $33.11, reflecting insider confidence in the company's potential.

The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $28.63 and last traded at $28.86, with a volume of 1453278 shares. The stock had previously closed at $29.45.

Analyst Ratings Changes

SMPL has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Mizuho reduced their price target on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, July 15th. DA Davidson reduced their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, June 9th. UBS Group set a $36.00 price target on shares of Simply Good Foods and gave the company a "neutral" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen downgraded shares of Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Simply Good Foods Trading Down 2.0%

The stock has a market capitalization of $2.90 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.89 and a beta of 0.59. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $32.23 and its two-hundred day simple moving average is $34.64.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company had revenue of $380,956 billion during the quarter, compared to analysts' expectations of $381.68 million. During the same quarter in the prior year, the company posted $0.50 EPS. The business's revenue was up 13.8% on a year-over-year basis. As a group, analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insider Activity

In other Simply Good Foods news, CEO Geoff E. Tanner acquired 6,050 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the purchase, the chief executive officer owned 98,190 shares in the company, valued at $3,251,070.90. This represents a 6.57% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 9.35% of the company's stock.

Hedge Funds Weigh In On Simply Good Foods

Hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its position in shares of Simply Good Foods by 2.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,194,531 shares of the financial services provider's stock worth $179,160,000 after purchasing an additional 134,618 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Simply Good Foods by 18.3% during the 1st quarter. Wellington Management Group LLP now owns 4,195,497 shares of the financial services provider's stock worth $144,703,000 after purchasing an additional 649,258 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Simply Good Foods by 10.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,811,128 shares of the financial services provider's stock worth $148,558,000 after purchasing an additional 366,072 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Simply Good Foods by 5.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,764,646 shares of the financial services provider's stock worth $129,841,000 after purchasing an additional 210,782 shares in the last quarter. Finally, Boston Trust Walden Corp increased its position in shares of Simply Good Foods by 1.0% during the 2nd quarter. Boston Trust Walden Corp now owns 3,034,123 shares of the financial services provider's stock worth $95,848,000 after purchasing an additional 31,455 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.

About Simply Good Foods

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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