Simply Good Foods (NASDAQ:SMPL) Stock Price Down 5.1% – Here’s Why

The Simply Good Foods Company (NASDAQ:SMPL) was down 5.1% on Monday . The company traded as low as $13.10 and last traded at $13.0340. Approximately 79,302 shares were traded during trading, a decline of 97% from the average daily volume of 2,525,961 shares. The stock had previously closed at $13.73.

Analysts Set New Price Targets

Several analysts recently issued reports on SMPL shares. BTIG Research initiated coverage on Simply Good Foods in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Morgan Stanley lowered their price objective on 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. Zacks Research raised Simply Good Foods from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Finally, Sanford C. Bernstein downgraded shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.00 to $12.00 in a research note on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Simply Good Foods presently has a consensus rating of “Hold” and a consensus price target of $17.30.

Simply Good Foods Trading Down 4.8%

The firm’s fifty day simple moving average is $12.31 and its 200 day simple moving average is $15.24. The stock has a market capitalization of $1.18 billion, a P/E ratio of -11.00 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.87 and a current ratio of 5.06.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $326.01 million during the quarter, compared to the consensus estimate of $345.08 million. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. As a group, equities research analysts forecast that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Insider Buying and Selling at Simply Good Foods

In other Simply Good Foods news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the purchase, the director owned 111,743 shares in the company, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Kilts purchased 80,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average cost of $12.39 per share, with a total value of $991,200.00. Following the acquisition, the director directly owned 172,854 shares in the company, valued at $2,141,661.06. This represents a 86.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 8.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 538 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Simply Good Foods during the 3rd quarter valued at approximately $36,000. Hantz Financial Services Inc. grew its holdings in shares of Simply Good Foods by 82.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 807 shares during the last quarter. Parallel Advisors LLC increased its position in Simply Good Foods by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Leonteq Securities AG increased its position in Simply Good Foods by 96.2% during the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,132 shares in 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.