<div id="readability-page-1">We recently compiled a list of 7 Cheap Food Stocks to Buy According to Analysts. In this article. we will look at where The Simply Good Foods Company (NASDAQ:SMPL) ranks among the cheap food stocks to buy according to analysts.<h2>The Resilience and Growth of the Fast Food Industry </h2>Fast food companies are known for satisfying customers’ needs on many levels by providing quick service, being reasonably priced, and consistently creating new menu items. This global phenomenon is still growing today due to fast food chains’ capacity to appeal to a large consumer base, which has allowed them to expand globally and create enduring presences in international markets.In the United States, in particular, a study by The Barbecue Lab found that over 83% of US households eat fast food at least once a week, and most Americans consume it one to three times a week. According to the report, many people believe that fast food is “relatively inexpensive compared to other dining options,” with over 32% of customers thinking this way about it. Despite popular belief, fast food is typically more expensive in real terms than home-cooked meals. Contrary to popular assumption, lower-class families do not rely on fast food because it is more affordable; rather, people with higher earnings tend to consume more fast food than people with lower incomes.The food industry is essential and often seen as resilient during economic downturns since consumers must still purchase food despite cutting back on luxury items. It is one of the largest sectors globally, focusing on managing demand and competing effectively in logistics and supply chain management. A research report by Fortune Business Insights highlights the food processing market, valued at $2.3 trillion in 2021, projecting a growth rate of 10.6% annually, reaching an estimated $5.1 trillion by 2029. This strong growth is attributed to trends such as increased vegetarian diets, urban migration, rising online ordering, and higher disposable incomes for dining out.Investing in the fast-food industry offers promising growth opportunities, but not all companies will outperform the market. McDonald’s Corporation and Domino’s Pizza, Inc. were highlighted as top performers in March 2023, with McDonald’s leading the QSR 50 Report for 2022 due to system-wide sales exceeding $112 billion and digital sales surpassing $18 billion. In early 2023, McDonald’s reported a nearly $20 billion sales growth, though Q4 2023 saw a slight dip with net revenues of $6.4 billion, below expectations. Despite this, sales at company-operated restaurants rose 12% year over year, thanks to the successful Accelerating the Arches strategy. Meanwhile, Domino’s is working to recover from two years of declining shares.<h2>Our Methodology </h2>We gathered stocks for our list based on the consensus of financial media on their strong fundamentals. We further narrowed down on the basis of a p/e ratio below 25, since the p/e ratio in subindustries of the food industry hovers above it, and then finally checked out their analysts’ upside based on their opinions of whether these stocks are trading at a discount and picked those which are according to analysts and ranked them on upside.“Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points ().”<img src="https://imageproxy.pbkrs.com/https://imonkey-blog.imgix.net/blog/wp-content/uploads/2023/10/19163147/SMPL-insidermonkey-1697747505116.jpg/query-YXV0bz1mb3J0bWF0JmV4cGlyZXM9MTc2MDgzMjAwMCZmaXQ9Y2xpcCZoZWlnaHQ9MjY5JndpZHRoPTQ4MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="830" height="465" original-src="https://imageproxy.pbkrs.com/https://imonkey-blog.imgix.net/blog/wp-content/uploads/2023/10/19163147/SMPL-insidermonkey-1697747505116.jpg/query-YXV0bz1mb3J0bWF0JmV4cGlyZXM9MTc2MDgzMjAwMCZmaXQ9Y2xpcCZoZWlnaHQ9MjY5JndpZHRoPTQ4MA"/><h3>The Simply Good Foods Company (NASDAQ:SMPL)</h3>Price Target Upside: 14.60% Number of Hedge Fund Holders: 23 The Simply Good Foods Company (NASDAQ:SMPL) is a consumer-packaged food and beverage company that specializes in nutritious snacking products. Their core offerings include protein bars, ready-to-drink shakes, sweet and salty snacks, and confectionery products marketed under popular brands like Atkins, Quest, and SimplyProtein.A significant catalyst for The Simply Good Foods Company (NASDAQ:SMPL) is its recent acquisition of OWYN (Only What You Need), a plant-based protein shake brand. This strategic move allows the company to tap into the growing plant-based market, diversifying its product offerings and potentially attracting a new customer base. The addition of OWYN is expected to contribute $25-30 million in net sales for the fiscal year 2024. Simply Good Foods is expanding its online sales, with 21% of Quest sales and 14% of Atkins sales now online. This digital growth offers a significant opportunity to reach a wider audience.In Q3 2024, The Simply Good Foods Company (NASDAQ:SMPL) reported net sales of $334.8 million, a 3.1% YoY increase, driven by a 13% rise in Quest retail takeaway, particularly for salty snacks. Atkins saw a 5% decline due to shifting consumer preferences. Net income grew to $41.3 million, with EPS of $0.50, beating expectations. Lower ingredient and packaging costs helped improve earnings.Simply Good Foods reported a $208.7 million cash balance, driven by a 50% increase in cash from operations. The company used reserves for the OWYN acquisition and plans to reduce its $490 million term loan to achieve a 1.25x net debt-to-EBITDA ratio. A 3.56% stock rise is linked to optimism around the OWYN deal, while a 13.65% YTD decline is tied to rising cocoa prices. Future performance is expected to improve with synergies from the April 2024 OWYN acquisition.As of Q2 2024, 23 hedge funds held a combined $192 million investment in the stock, showing continued bullish sentiment, according to Insider Monkey. The stock also holds a Moderate Buy rating. Analysts have set a 12-month price target of $40.00 for Simply Good Foods, reflecting a 17.96% increase from the current price of $33.91.Overall, SMPL ranks 7th among the 7 cheap food stocks to buy according to analysts. While we acknowledge the potential of SMPL as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SMPL but that trades at less than 5 times its earnings, check out our report about the .Disclosure: None. This article is originally published on Insider Monkey.Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal! The whispers are turning into roars. Artificial intelligence isn’t science fiction anymore. It’s the revolution reshaping every industry on the planet. From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards. Here’s why this is the prime moment to jump on the AI bandwagon: Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory. Imagine every sector, from healthcare to finance, infused with superhuman intelligence. We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything. This isn’t a maybe – it’s an inevitability. Early investors will be the ones positioned to ride the wave of this technological tsunami. Ground Floor Opportunity: Remember the early days of the internet? Those who saw the potential of tech giants back then are sitting pretty today. AI is at a similar inflection point. We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon. This is your chance to get in before the rockets take off! Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation. AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries. The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust. As an investor, you want to be on the side of the winners, and AI is the winning ticket. The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI. From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field. This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements. By investing in AI, you’re essentially backing the future. The future is powered by artificial intelligence, and the time to invest is NOW. Don’t be a spectator in this technological revolution. Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation. This isn’t just about making money – it’s about being part of the future. So, buckle up and get ready for the ride of your investment life! Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!) The AI revolution is upon us, and savvy investors stand to make a fortune. But with so many choices, how do you find the hidden gem – the company poised for explosive growth? That’s where our expertise comes in. We’ve got the answer, but there’s a twist… Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap. That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade! Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity. This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors. It’s like having a race car on a go-kart track. They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field. Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel. We want to make sure none of our valued readers miss out on this groundbreaking opportunity! That’s why we’re slashing the price of our Premium Readership Newsletter by 15% and offering month-to-month subscriptions with no commitments. For a ridiculously low price of just $6.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal! Here’s why this is a deal you can’t afford to pass up: • Access to our Detailed Report on our Game-Changing AI Stock:Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential. • One New Issue of Our Premium Readership Newsletter: You will also receive one new issue per month and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan. • One free upcoming issue of our 70+ page Quarterly Newsletter:A value of $149 • Bonus Reports:Premium access to members-only fund manager video interviews • Ad-Free Browsing: Enjoy a month of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity. • Lifetime Price Guarantee: Your renewal rate will always remain the same as long as your subscription is active. • 30-Day Money-Back Guarantee:If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked. Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment. Here’s what to do next: 1. Head over to our website and subscribe to our Premium Readership Newsletter for just $6.99. 2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter. 3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee. Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future! Subscribe Now! No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later! I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries. We’re independently funding today’s broadcast to address something on the mind of every investor in America right now… Should I put my money in Artificial Intelligence? Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin. Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance… But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down. That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet… And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day. He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance. Click to continue reading… </div>

SMPL

簡單好食品公司（NASDAQ:SMPL）被認為是廉價食品股中一家有前景的投資標的，目標股價上漲空間為 14.60%。該公司專注於營養零食，並最近收購了植物蛋白品牌 OWYN，預計將在 2024 財年將淨銷售額提升 3000 萬美元。儘管 Atkins 銷售略有下降，但總體淨銷售額同比增長 3.1%，主要受到 Quest 產品表現強勁的推動。分析師指出，快餐行業仍然具有韌性，在該領域存在重要的增長機會

根據分析師的意見，Simply Good Foods 公司（SMPL）是最值得購買的廉價食品股嗎？