Simply Good Foods (NASDAQ:SMPL) Trading Down 6.2% – What’s Next?

The Simply Good Foods Company (NASDAQ:SMPL) shares traded down 6.2% during mid-day trading on Monday . The stock traded as low as $36.95 and last traded at $37.06. 1,037,736 shares were traded during trading, an increase of 25% from the average session volume of 828,331 shares. The stock had previously closed at $39.50.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SMPL. Citigroup lowered their target price on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Stephens dropped their price objective on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Mizuho lifted their target price on Simply Good Foods from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.22.

Simply Good Foods Stock Performance

The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 3.51 and a beta of 0.67. The company has a 50-day moving average price of $38.21 and a 200-day moving average price of $35.44. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $341.30 million during the quarter, compared to analyst estimates of $347.32 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, equities research analysts forecast that The Simply Good Foods Company will post 1.77 earnings per share for the current year.

Insiders Place Their Bets

In other Simply Good Foods news, CAO Timothy Allen Matthews sold 5,325 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $37.31, for a total value of $198,675.75. Following the completion of the sale, the chief accounting officer now directly owns 17,063 shares of the company’s stock, valued at approximately $636,620.53. This represents a 23.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timothy Richard Kraft sold 21,209 shares of Simply Good Foods stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.50, for a total transaction of $774,128.50. Following the completion of the transaction, the insider now directly owns 40,068 shares in the company, valued at $1,462,482. This represents a 34.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,869 shares of company stock worth $12,139,570. 9.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in Simply Good Foods by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock worth $721,000 after purchasing an additional 348 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Simply Good Foods by 4.9% in the third quarter. Fulton Bank N.A. now owns 9,536 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 443 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Simply Good Foods by 1.9% in the third quarter. Stifel Financial Corp now owns 26,688 shares of the financial services provider’s stock worth $928,000 after buying an additional 498 shares during the period. Cynosure Group LLC grew its holdings in shares of Simply Good Foods by 4.9% during the third quarter. Cynosure Group LLC now owns 10,659 shares of the financial services provider’s stock valued at $371,000 after buying an additional 500 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in Simply Good Foods by 3.9% during the third quarter. HighTower Advisors LLC now owns 13,504 shares of the financial services provider’s stock valued at $473,000 after buying an additional 501 shares during the period. 88.45% of the stock is owned by hedge funds and other institutional investors.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.