Simply Good Foods (NASDAQ:SMPL) Shares Gap Down - Here's Why

The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $32.34, but opened at $31.19. Simply Good Foods shares last traded at $33.13, with a volume of 530,468 shares.

Analyst Upgrades and Downgrades

SMPL has been the subject of a number of recent research reports. Citigroup reduced 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 research note on Wednesday, June 18th. DA Davidson reduced their price target on 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. Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Stifel Nicolaus reduced their price target on 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. Finally, Mizuho upped their price target on Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $39.71.

Simply Good Foods Stock Up 1.8%

The stock has a market capitalization of $3.32 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.96 and a beta of 0.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.27 and a quick ratio of 2.70. The business's fifty day moving average price is $33.87 and its two-hundred day moving average price is $35.43.

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 for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $380,956 billion for the quarter, compared to analyst estimates of $381.68 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. On average, equities research analysts forecast that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Simply Good Foods

Several hedge funds have recently added to or reduced their stakes in SMPL. Charles Schwab Investment Management Inc. boosted its holdings in Simply Good Foods by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,033,884 shares of the financial services provider's stock valued at $40,301,000 after purchasing an additional 43,874 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Simply Good Foods in the fourth quarter valued at $1,863,000. Amundi boosted its holdings in Simply Good Foods by 152.4% in the fourth quarter. Amundi now owns 54,198 shares of the financial services provider's stock valued at $1,942,000 after purchasing an additional 32,721 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Simply Good Foods in the fourth quarter valued at $7,884,000. Finally, Swiss National Bank boosted its holdings in Simply Good Foods by 0.7% in the fourth quarter. Swiss National Bank now owns 187,100 shares of the financial services provider's stock valued at $7,293,000 after purchasing an additional 1,300 shares during 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.