The Simply Good Foods Company (NASDAQ:SMPL – Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $9.83 and last traded at $9.84, with a volume of 2496727 shares. The stock had previously closed at $10.24.
Analysts Set New Price Targets
SMPL has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a report on Thursday, June 18th. DA Davidson cut their target price on Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Sanford C. Bernstein downgraded Simply Good Foods from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $17.00 to $12.00 in a report on Wednesday, June 3rd. Zacks Research upgraded Simply Good Foods from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, UBS Group set a $15.00 price objective on Simply Good Foods in a report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.45.
Get Our Latest Research Report on SMPL
Simply Good Foods Price Performance
Simply Good Foods (NASDAQ:SMPL – Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The business had revenue of $356.98 million during the quarter, compared to the consensus estimate of $332.99 million. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. Research analysts forecast that The Simply Good Foods Company will post 1.54 earnings per share for the current year.
Institutional Investors Weigh In On Simply Good Foods
Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Simply Good Foods during the 2nd quarter worth approximately $180,913,000. River Road Asset Management LLC bought a new position in shares of Simply Good Foods during the fourth quarter valued at approximately $31,857,000. Marshall Wace LLP purchased a new stake in Simply Good Foods in the third quarter worth $31,825,000. Oaktree Capital Management LP bought a new position in Simply Good Foods in the first quarter worth approximately $16,200,000. Finally, California State Teachers Retirement System increased its stake in shares of Simply Good Foods by 934.8% during the second quarter. California State Teachers Retirement System now owns 1,209,503 shares of the financial services provider’s stock valued at $16,062,000 after buying an additional 1,092,623 shares during the period. 88.45% of the stock is currently owned by institutional investors.
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.
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