Simply Good Foods (NASDAQ:SMPL) Stock Crosses Below Two Hundred Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Shares of The Simply Good Foods Company (NASDAQ:SMPL – Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.84 and traded as low as $20.69. Simply Good Foods shares last traded at $21.15, with a volume of 2,294,904 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on SMPL shares. Jefferies Financial Group decreased their price target on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday, October 22nd. Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Friday, December 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. Finally, Mizuho set a $30.00 price objective on Simply Good Foods in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.67.

View Our Latest Report on SMPL

Simply Good Foods Stock Down 1.0%

The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 2.72 and a beta of 0.27. The company has a quick ratio of 3.24, a current ratio of 5.01 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average price is $19.68 and its 200 day moving average price is $24.71.

Simply Good Foods (NASDAQ:SMPL – Get Free Report) last issued its earnings results 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 return on equity of 9.56% and a net margin of 6.26%.The company had revenue of $340.20 million during the quarter, compared to analyst estimates of $337.64 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Simply Good Foods news, CFO Christopher J. Bealer acquired 9,946 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $20.01 per share, with a total value of $199,019.46. Following the acquisition, the chief financial officer directly owned 32,966 shares of the company’s stock, valued at approximately $659,649.66. The trade was a 43.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Timothy Allen Matthews sold 5,859 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $19.47, for a total transaction of $114,074.73. Following the transaction, the chief accounting officer owned 18,065 shares of the company’s stock, valued at $351,725.55. This represents a 24.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simply Good Foods

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 538 shares during the period. Johnson Financial Group Inc. acquired a new stake in Simply Good Foods in the third quarter valued at approximately $36,000. CWM LLC increased its position in shares of Simply Good Foods by 343.0% in the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock valued at $65,000 after buying an additional 2,017 shares in the last quarter. State of Wyoming acquired a new position in shares of Simply Good Foods during the 2nd quarter worth approximately $87,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Simply Good Foods during the 2nd quarter worth approximately $109,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

About Simply Good Foods

(Get Free Report)

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.

Read More