Simply Good Foods (NASDAQ:SMPL) Sets New 52-Week Low - Here's Why

Key Points

• Shares of Simply Good Foods (NASDAQ:SMPL) hit a new 52-week low of $23.86 during trading, after closing at $24.68.
• Analysts have mixed ratings for the stock, with a consensus rating of "Moderate Buy" and an average price target of $39.88.
• CEO Geoff E. Tanner has increased his ownership by acquiring 6,050 shares at an average cost of $33.11 per share.

Shares of The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $23.86 and last traded at $23.85, with a volume of 264529 shares. The stock had previously closed at $24.68.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMPL. Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the stock an "outperform" rating in a report on Friday, July 11th. DA Davidson dropped 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 note on Monday, June 9th. Stifel Nicolaus lowered their target price on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Citigroup cut 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, Mizuho reduced their target price 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. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Simply Good Foods presently has a consensus rating of "Moderate Buy" and an average price target of $39.88.

Simply Good Foods Stock Performance

The company has a market cap of $2.38 billion, a PE ratio of 16.58, a PEG ratio of 2.61 and a beta of 0.53. The business's 50 day moving average is $28.08 and its two-hundred day moving average is $32.10. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14.

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. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.The business had revenue of $380.96 million during the quarter, compared to analyst estimates of $381.68 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current year.

Insider Activity

In other news, CEO Geoff E. Tanner acquired 6,050 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average cost of $33.11 per share, with a total value of $200,315.50. Following the transaction, the chief executive officer owned 98,190 shares in the company, valued at approximately $3,251,070.90. This trade represents a 6.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.35% of the company's stock.

Institutional Trading of Simply Good Foods

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in Simply Good Foods by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 538 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Simply Good Foods during the 1st quarter worth $54,000. Caitong International Asset Management Co. Ltd acquired a new position in Simply Good Foods in the 1st quarter worth approximately $55,000. Quarry LP increased its stake in Simply Good Foods by 59.7% in the 1st quarter. Quarry LP now owns 2,009 shares of the financial services provider's stock valued at $69,000 after buying an additional 751 shares during the period. Finally, State of Wyoming acquired a new position in Simply Good Foods in the second quarter worth approximately $87,000. Institutional investors and hedge funds 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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