12 Most Promising Mid-Cap Consumer Staples Stocks Under $100

9. Simply Good Foods (NASDAQ:SMPL)

Sector/Industry: Consumer Staples (Packaged Foods)

Share Price: $21.40

Potential Upside: 27.3%

Number of Hedge Fund Holders: 35

Simply Good Foods (NASDAQ:SMPL) is one of the most promising mid-cap consumer staples stocks under $100.

On December 19, Alexia Burland Howard from Bernstein SocGen reaffirmed her Buy rating on Simply Good Foods (NASDAQ:SMPL). She also revised her target price from $29 to $31, which now results in an upside of almost 45%.

Howard pointed out the consensus topline growth forecasts, which do not align with U.S. scanner sales data. Despite some weakness in Atkins products, she observed promising signs across brands accounting for about 75% of the remaining sales mix. This includes Quest and OWYN products, which exhibit growth in high-teens during the prior 12 months. It is to be noted that these two brands account for approximately 50% of the product portfolio sales.

On December 15, Deutsche Bank analyst Stephen Powers reiterated his neutral stance on Simply Good Foods (NASDAQ:SMPL). He assigned a Hold rating to the stock and revised the target price downwards from $26 to $22. His estimates now lead to a flat growth potential in share price, precisely around 3%.

Simply Good Foods (NASDAQ:SMPL) develops and sells packaged food, nutritional snacks, and beverages under different brands, including Quest and Atkins. The company sells its products through a strong network of retail and e-commerce platforms. Some of their offerings include protein bars, shakes, caramel candy bars, cookies, crackers and peanut butter cups.