Cal-Maine Foods (NASDAQ:CALM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $48.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.54% from the company’s previous close.
According to Zacks, “Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “
Several other analysts have also recently weighed in on the company. BidaskClub cut Cal-Maine Foods from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. Cleveland Research raised Cal-Maine Foods from a “sell” rating to a “neutral” rating in a research report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Cal-Maine Foods has an average rating of “Hold” and a consensus target price of $38.80.
Shares of Cal-Maine Foods (CALM) opened at $42.65 on Thursday. The company has a current ratio of 2.78, a quick ratio of 1.85 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2,070.00, a P/E ratio of -33.06 and a beta of 0.67. Cal-Maine Foods has a 12-month low of $33.40 and a 12-month high of $50.40.
Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Friday, January 5th. The basic materials company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.15). The firm had revenue of $361.20 million for the quarter, compared to the consensus estimate of $370.85 million. Cal-Maine Foods had a negative net margin of 5.18% and a negative return on equity of 1.15%. The business’s revenue was up 42.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.48) earnings per share. equities research analysts anticipate that Cal-Maine Foods will post 1.3 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Cal-Maine Foods in the 3rd quarter worth approximately $127,000. Public Employees Retirement System of Ohio boosted its position in shares of Cal-Maine Foods by 22.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,161 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 590 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Cal-Maine Foods by 48.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 1,111 shares in the last quarter. Sei Investments Co. boosted its position in shares of Cal-Maine Foods by 42.4% in the 3rd quarter. Sei Investments Co. now owns 3,882 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 1,156 shares in the last quarter. Finally, National Investment Services Inc. WI bought a new stake in shares of Cal-Maine Foods in the 4th quarter worth approximately $256,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.
Cal-Maine Foods Company Profile
Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.
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