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

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $14.25 and last traded at $14.5470, with a volume of 187514 shares traded. The stock had previously closed at $14.35.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Mizuho set a $30.00 price objective on Simply Good Foods in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research note on Monday, December 29th. UBS Group reaffirmed a “neutral” rating on shares of Simply Good Foods in a report on Friday, January 9th. Jefferies Financial Group raised shares of Simply Good Foods from a “hold” rating to a “buy” rating and dropped their price objective for the company from $23.00 to $22.00 in a research note on Monday. Finally, Zacks Research downgraded shares of Simply Good Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.11.

Simply Good Foods Trading Up 2.0%

The company has a current ratio of 5.01, a quick ratio of 3.24 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $17.67 and a 200-day simple moving average of $20.57. The company has a market capitalization of $1.36 billion, a PE ratio of 16.28, a PEG ratio of 1.97 and a beta of 0.26.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $340.20 million for the quarter, compared to analyst estimates of $337.64 million. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. Analysts predict that The Simply Good Foods Company will post 1.78 EPS for the current year.

Hedge Funds Weigh In On Simply Good Foods

Several institutional investors and hedge funds have recently bought and sold shares of the company. River Road Asset Management LLC purchased a new stake in shares of Simply Good Foods in the 4th quarter valued at approximately $31,857,000. Marshall Wace LLP purchased a new stake in shares of Simply Good Foods during the 3rd quarter valued at approximately $31,825,000. Norges Bank acquired a new position in Simply Good Foods in the second quarter valued at approximately $36,419,000. Millennium Management LLC lifted its holdings in Simply Good Foods by 482.7% in the third quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock valued at $30,932,000 after acquiring an additional 1,032,358 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its position in Simply Good Foods by 781.1% in the third quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock worth $22,397,000 after acquiring an additional 799,983 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Company Profile

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.