Is B&G Foods, Inc. overvalued or undervalued?

As of 9 November 2022, B&G Foods, Inc. has moved from a very attractive to a risky valuation grade. The company appears to be overvalued, given its low P/E ratio of 3 and a Price to Book Value of 0.68, which suggests that the market may not be pricing in its potential effectively. Additionally, the EV to EBITDA ratio stands at 7.93, indicating that investors are paying a premium relative to earnings before interest, taxes, depreciation, and amortization.
In comparison to its peers, B&G Foods has a P/E ratio of 3.38, while Beyond Meat, Inc. shows a negative P/E, and The Hain Celestial Group, Inc. has a P/E of 9.84. This highlights that B&G Foods is significantly undervalued relative to its industry peers. The company's recent stock performance has been poor, with a YTD return of -32.66% compared to the S&P 500's positive return of 12.22%, reinforcing the notion that the stock may be overvalued in the current market environment.