Simply Good Foods (NASDAQ:SMPL) Sets New 1-Year Low – Should You Sell?

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price hit a new 52-week low during trading 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SMPL. Jefferies Financial Group raised shares of Simply Good Foods from a “hold” rating to a “buy” rating and decreased their price target for the stock from $23.00 to $22.00 in a report on Monday, March 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. Mizuho set a $30.00 target price on Simply Good Foods in a research note on Thursday, January 15th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.11.

Simply Good Foods Stock Down 1.0%

The stock’s fifty day moving average price is $17.12 and its 200 day moving average price is $20.11. The stock has a market cap of $1.29 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.83 and a beta of 0.26. The company has a current ratio of 5.01, a quick ratio of 3.24 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The company had revenue of $340.20 million during the quarter, compared to the consensus estimate of $337.64 million. During the same period in the previous year, the firm posted $0.49 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, research analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share 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. Y Intercept Hong Kong Ltd lifted its position in Simply Good Foods by 740.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 162,845 shares of the financial services provider’s stock worth $4,042,000 after buying an additional 143,458 shares during the last quarter. Savoir Faire Capital Management L.P. grew its position in Simply Good Foods by 96.8% during the third quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock valued at $3,623,000 after acquiring an additional 71,773 shares during the last quarter. Thornburg Investment Management Inc. bought a new position in Simply Good Foods during the second quarter valued at approximately $8,238,000. Clark Estates Inc. NY purchased a new position in shares of Simply Good Foods during the third quarter worth approximately $1,986,000. Finally, Norges Bank purchased a new position in shares of Simply Good Foods during the second quarter worth approximately $36,419,000. 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.