Simply Good Foods (NASDAQ:SMPL) Hits New 12-Month Low – Should You Sell?

The Simply Good Foods Company (NASDAQ:SMPL) shares reached a new 52-week low during trading on Thursday . The company traded as low as $9.97 and last traded at $9.8840, with a volume of 142053 shares changing hands. The stock had previously closed at $10.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SMPL. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research note on Thursday, June 18th. Morgan Stanley reduced their price objective on shares of Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. BTIG Research initiated coverage on shares of Simply Good Foods in a report on Monday, April 13th. They issued a “neutral” rating for the company. DA Davidson dropped their target price on shares of Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Finally, Mizuho set a $19.00 target price on shares of Simply Good Foods in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Simply Good Foods has a consensus rating of “Hold” and an average price target of $15.20.

Simply Good Foods Trading Down 1.4%

The company has a current ratio of 4.80, a quick ratio of 3.10 and a debt-to-equity ratio of 0.28. The company has a market cap of $894.33 million, a PE ratio of -4.66 and a beta of 0.13. The stock has a 50 day moving average price of $12.08 and a 200 day moving average price of $14.23.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. The company had revenue of $356.98 million for the quarter, compared to analysts’ expectations of $332.99 million. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts predict that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, Director Clayton C. Daley, Jr. bought 10,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the acquisition, the director owned 111,743 shares in the company, valued at approximately $1,316,332.54. This represents a 9.83% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.76% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

Several hedge funds have recently bought and sold shares of SMPL. River Road Asset Management LLC purchased a new stake in Simply Good Foods in the fourth quarter worth about $31,857,000. Marshall Wace LLP purchased a new position in shares of Simply Good Foods during the third quarter valued at approximately $31,825,000. Oaktree Capital Management LP bought a new stake in shares of Simply Good Foods in the 1st quarter worth approximately $16,200,000. Millennium Management LLC boosted its position in shares of Simply Good Foods by 482.7% in the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock worth $30,932,000 after purchasing an additional 1,032,358 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Simply Good Foods by 179.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,472,753 shares of the financial services provider’s stock worth $21,134,000 after buying an additional 946,216 shares during the last quarter. Institutional investors own 88.45% of the company’s stock.

About Simply Good Foods

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.