Simply Good Foods (NASDAQ:SMPL) Stock Breaks Above 50 Day Moving Average – Should You Sell?

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $10.43 and traded as high as $10.88. Simply Good Foods shares last traded at $10.84, with a volume of 3,956,445 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on SMPL shares. UBS Group decreased their price objective on Simply Good Foods from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial set a $11.00 price objective on Simply Good Foods in a research report on Wednesday, August 26th. Weiss Ratings downgraded Simply Good Foods from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Stifel Nicolaus reduced their target price on shares of Simply Good Foods from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 target price on shares of Simply Good Foods in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating, ten 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 $13.36.

Simply Good Foods Stock Performance

The company has a market cap of $977.17 million, a PE ratio of -6.58 and a beta of 0.19. The company has a current ratio of 5.57, a quick ratio of 3.10 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $10.41 and its two-hundred day moving average is $12.93.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $333.31 million during the quarter, compared to analyst estimates of $327.03 million. Simply Good Foods had a positive return on equity of 9.36% and a negative net margin of 11.49%. Simply Good Foods’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. On average, equities research analysts anticipate that The Simply Good Foods Company will post 1.58 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SMPL. Illinois Municipal Retirement Fund raised its holdings in shares of Simply Good Foods by 2.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 53,688 shares of the financial services provider’s stock valued at $770,000 after purchasing an additional 1,047 shares in the last quarter. Leonteq Securities AG boosted its position in shares of Simply Good Foods by 96.2% in 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. Hsbc Holdings PLC grew its stake in shares of Simply Good Foods by 4.1% during the first quarter. Hsbc Holdings PLC now owns 30,788 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 1,221 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Simply Good Foods by 244.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,995 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 2,125 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Simply Good Foods in the 2nd quarter worth $30,000. 88.45% of the stock is owned by hedge funds and other institutional investors.

About Simply Good Foods

The Simply Good Foods Company (NASDAQ: SMPL) is a consumer packaged food company focused on convenient, nutrition-focused products. Its portfolio is built around the Atkins and Quest brands, which serve consumers seeking lower-carbohydrate, higher-protein and better-for-you food options.

The company offers a variety of products, including protein bars, snack bars, shakes, cookies, chips, confectionery items, protein powders and frozen foods. Its products are sold through grocery stores, mass merchants, club stores, drugstores, convenience stores, e-commerce platforms and other retail channels.

Simply Good Foods was established in 2017 through the combination of Conyers Park Acquisition Corp.