These were the worst performing ASX 200 shares last week

These ASX 200 shares were out of form last week…

Person with thumbs down and a red sad face poster covering the face.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Thanks to a strong finish to the week, the S&P/ASX 200 Index (ASX: XJO) recorded its first weekly gain of the month. The benchmark index rose 1.1% to end the period at 7,145.6 points.

Unfortunately, not all shares were able to climb with the market. Here's why these were the worst performers on the ASX 200 last week:

Metcash Limited (ASX: MTS)

The Metcash share price was the worst performer on the ASX 200 last week with a 9.5% decline. This was despite the wholesale distributor announcing the renewal of a major contract with Drakes Supermarkets in Queensland. Sales by Metcash's Food pillar to Drakes Queensland stores in FY 2021 were ~$220 million. Concerns over consumer spending due to inflation and high energy prices may have offset this news.

Boral Limited (ASX: BLD)

The Boral share price wasn't far behind with a decline of 9.45% over the five days. Investors were selling this building products company's shares after it revealed that its earnings have taken a hit from inclement weather and higher energy prices. This means that Boral will fall short of its underlying earnings before interest and tax (EBIT) guidance of $145 million and $155 million.

Nufarm Ltd (ASX: NUF)

The Nufarm share price was out of form and dropped 9.1% last week. This was driven by the release of the agricultural chemicals company's half-year results. For the six months ended 31 March, Nufarm reported a 41% increase in underlying EBITDA to $330 million. This was in the middle of the company's guidance range of $320 million to $340 million. It appears that some investors may have been expecting Nufarm to hit the top end of its guidance range.

Sims Ltd (ASX: SGM)

The Sims share price was a poor performer with an 8.3% decline over the period. This appears to have been driven by a broker note out of Goldman Sachs. Its analysts downgraded the scrap metal company's shares to a neutral rating with a $21.30 price target. Goldman made the move on valuation grounds and prefers BlueScope Steel Limited (ASX: BSL) at current levels.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Domino's, Lynas, Paladin Energy, and St Barbara shares are sinking today

These shares are having a tough session. What's going on?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Amcor, Boss Energy, Brickworks, and Mineral Resources shares are tumbling today

These shares are starting the week in the red. But why?

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

The worst 3 ASX 200 stocks to buy and hold in October unmasked

You would have done well to avoid these three ASX 200 stocks in October.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why AFT, Amcor, Corporate Travel, and Macquarie shares are falling today

These shares are ending the week in the red. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why AGL, Imugene, Star, and Woolworths shares are dropping today

These shares are dropping on Thursday. Let's see why investors are selling them.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Fallers

Why Corporate Travel Management, JB Hi-Fi, Mineral Resources, and Syrah shares are rising

These shares are having a strong session. Why are investors buying their shares?

Read more »

A guys points his fingers down.
Share Fallers

Why Brainchip, Cettire, Star, and Woolworths shares are being sold off today

These shares are having a difficult time on hump day. But why?

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Black Cat, BlueScope, Cettire, and Coronado shares are falling today

These shares are missing out on the good times on Tuesday. But why?

Read more »