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

Key Points

• The stock hit a new 52-week low of $13.71 on Wednesday and last traded at $13.91 on heavy volume (2,242,176 shares).
• Analysts are mixed with a consensus Hold rating (five Buys, five Holds, one Sell) and an average price target of $29.11.
• Recent quarterly results showed an EPS beat ($0.39 vs. $0.36) and revenue of $340.2M (down 0.3% YoY); the company has a $1.29B market cap, strong liquidity (current ratio 5.01) and low leverage (debt/equity 0.23).

The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $13.71 and last traded at $13.91, with a volume of 2242176 shares changing hands. The stock had previously closed at $14.05.

Wall Street Analyst Weigh In

Several analysts have issued reports on SMPL shares. Sanford C. Bernstein restated an "outperform" rating on shares of Simply Good Foods in a research note on Friday, January 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Simply Good Foods in a research note on Monday, December 29th. UBS Group reissued a "neutral" rating on shares of Simply Good Foods in a report on Friday, January 9th. Zacks Research cut Simply Good Foods from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $22.00 price objective on shares of Simply Good Foods in a report on Monday, December 15th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $29.11.

Simply Good Foods Trading Down 1.0%

The stock has a market cap of $1.29 billion, a PE ratio of 15.46, a P/E/G ratio of 1.83 and a beta of 0.26. The firm has a 50-day simple moving average of $17.12 and a 200-day simple moving average of $20.11. The company has a quick ratio of 3.24, a current ratio of 5.01 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.03. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The firm had revenue of $340.20 million during the quarter, compared to analyst estimates of $337.64 million. During the same period last year, the company earned $0.49 earnings per share. The business's revenue for the quarter was down .3% on a year-over-year basis. Equities analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in shares of Simply Good Foods by 9.0% in the first quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider's stock worth $2,448,000 after buying an additional 5,893 shares in the last quarter. AQR Capital Management LLC grew its stake in Simply Good Foods by 3.4% during the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider's stock valued at $656,000 after acquiring an additional 617 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Simply Good Foods by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider's stock worth $1,891,000 after acquiring an additional 2,850 shares during the period. Caxton Associates LLP bought a new stake in Simply Good Foods during the 1st quarter worth approximately $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Simply Good Foods by 10.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,229 shares of the financial services provider's stock worth $7,734,000 after purchasing an additional 21,696 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

Simply Good Foods Company Profile

Simply Good Foods Co NASDAQ: SMPL is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.

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