Simply Good Foods (NASDAQ:SMPL) Shares Gap Down - Should You Sell?

The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SMPL shares. DA Davidson cut their price objective on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Stifel Nicolaus cut their price objective on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Morgan Stanley raised their price objective on Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, April 10th. Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Mizuho raised their price objective on Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $39.71.

Simply Good Foods Trading Up 1.8%

The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 3.01 and a beta of 0.68. The business has a 50 day moving average price of $33.79 and a 200-day moving average price of $35.34.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its earnings results 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 return on equity of 10.29% and a net margin of 9.97%. The business had revenue of $380,956 billion during the quarter, compared to analyst estimates of $381.68 million. During the same quarter last year, the firm earned $0.50 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, research analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Simply Good Foods

A number of hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its stake in Simply Good Foods by 4.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 53,175 shares of the financial services provider's stock valued at $1,680,000 after purchasing an additional 2,189 shares in the last quarter. Voya Investment Management LLC grew its stake in Simply Good Foods by 33.2% during the 1st quarter. Voya Investment Management LLC now owns 79,703 shares of the financial services provider's stock valued at $2,749,000 after purchasing an additional 19,887 shares in the last quarter. Rhumbline Advisers grew its stake in Simply Good Foods by 0.8% during the 1st quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider's stock valued at $8,819,000 after purchasing an additional 1,904 shares in the last quarter. Strs Ohio acquired a new stake in Simply Good Foods during the 1st quarter valued at approximately $114,000. Finally, Intech Investment Management LLC grew its stake in Simply Good Foods by 43.5% during the 1st quarter. Intech Investment Management LLC now owns 62,005 shares of the financial services provider's stock valued at $2,139,000 after purchasing an additional 18,801 shares in the last quarter. 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.