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

Key Points

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The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $30.39 and last traded at $30.77, with a volume of 48189 shares changing hands. The stock had previously closed at $31.10.

Wall Street Analysts Forecast Growth

SMPL has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. Citigroup lowered their price objective on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Mizuho lowered their price objective on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 15th. UBS Group set a $36.00 price objective on shares of Simply Good Foods and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Finally, DA Davidson lowered their price objective on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Simply Good Foods presently has an average rating of "Moderate Buy" and a consensus price target of $39.88.

Simply Good Foods Stock Down 1.3%

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.46. The firm has a market capitalization of $3.02 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.99 and a beta of 0.59. The company's 50-day simple moving average is $32.79 and its two-hundred day simple moving average is $34.88.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $380,956 billion for the quarter, compared to the consensus estimate of $381.68 million. During the same period last year, the firm earned $0.50 earnings per share. The company's quarterly revenue was up 13.8% on a year-over-year basis. As a group, research analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Geoff E. Tanner acquired 6,050 shares of Simply Good Foods stock in a transaction dated Wednesday, July 23rd. The stock was purchased at an average cost of $33.11 per share, with a total value of $200,315.50. Following the completion of the purchase, the chief executive officer directly owned 98,190 shares in the company, valued at approximately $3,251,070.90. This trade represents a 6.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.35% of the company's stock.

Institutional Trading of Simply Good Foods

Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its stake in shares of Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock worth $38,000 after purchasing an additional 445 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Simply Good Foods in the first quarter worth $54,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Simply Good Foods in the first quarter worth $55,000. Quarry LP increased its stake in shares of Simply Good Foods by 59.7% in the first quarter. Quarry LP now owns 2,009 shares of the financial services provider's stock worth $69,000 after purchasing an additional 751 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Simply Good Foods by 13.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after purchasing an additional 300 shares in the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

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.