Combine comfort food and good nutrition and you get the product line offered by Simply Good Foods. Its Atkins brand meals, snacks and other products are drawing in healthy food seekers, as well as stock investors. On Wednesday, Simply Good Foods stock's IBD SmartSelect Composite Rating climbed to 96, just shy of a best-possible 99, up from 94 the day before.
The upgrade means Simply Good Foods stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Other Key Ratings For Simply Good Foods Stock
Simply Good Foods earns the No. 1 rank among its peers in the Food-Confectionery industry group.
Among other key ratings, the Accumulation/Distribution Rating of C- for Simply Good Foods stock shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
Menlo Park, Calif.-based Simply Good Foods also earns a 96 EPS Rating, meaning its recent quarterly and annual earnings growth tops 96% of all stocks.
The company reported a 48% year over year earnings gain for Q1, to 43 cents per share. Revenue growth rose 22%, up from 17% in the prior quarter, to $281.3 million.
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Simply Good Foods stock is currently forming a consolidation, with a 43.27 buy point. Look for the stock to break out in volume at least 40% higher than normal.
Hershey and Tootsie Roll Industries are also among the Food-Confectionery group's highest-rated stocks.
