Zacks Investment Research upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a strong-buy rating in a research report released on Thursday, February 15th. The firm currently has $48.00 target price on the basic materials company’s stock.
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. “
CALM has been the subject of a number of other reports. BidaskClub upgraded Cal-Maine Foods from a sell rating to a hold rating in a research note on Thursday, January 11th. Cleveland Research upgraded Cal-Maine Foods from a sell rating to a neutral rating in a research note on Saturday, December 30th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $38.80.
Shares of Cal-Maine Foods (NASDAQ CALM) opened at $43.65 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 2.78. The firm has a market capitalization of $2,071.68, a price-to-earnings ratio of -33.84 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 issued its quarterly earnings data on Friday, January 5th. The basic materials company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.15). The company had revenue of $361.20 million for the quarter, compared to analysts’ expectations of $370.85 million. Cal-Maine Foods had a negative return on equity of 1.15% and a negative net margin of 5.18%. The company’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.48) earnings per share. analysts anticipate that Cal-Maine Foods will post 1.3 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new position in Cal-Maine Foods during the 3rd quarter valued at about $127,000. Public Employees Retirement System of Ohio increased its position in Cal-Maine Foods by 22.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,161 shares of the basic materials company’s stock valued at $125,000 after buying an additional 590 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Cal-Maine Foods by 48.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the basic materials company’s stock valued at $135,000 after buying an additional 1,111 shares in the last quarter. Sei Investments Co. increased its position in Cal-Maine Foods by 42.4% during the 3rd quarter. Sei Investments Co. now owns 3,882 shares of the basic materials company’s stock valued at $160,000 after buying an additional 1,156 shares in the last quarter. Finally, National Investment Services Inc. WI acquired a new position in Cal-Maine Foods during the 4th quarter valued at about $256,000. 62.79% of the stock is currently owned by institutional investors.
About Cal-Maine Foods
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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