Cleveland Research upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a sell rating to a neutral rating in a research note released on Friday, December 22nd, Marketbeat.com reports.
Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Cal-Maine Foods from a buy rating to a hold rating in a research report on Tuesday, December 12th. Stephens upgraded shares of Cal-Maine Foods from an equal weight rating to an overweight rating and raised their target price for the stock from $35.00 to $50.00 in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered shares of Cal-Maine Foods from a strong-buy rating to a buy rating in a research report on Saturday, December 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $39.00.
Cal-Maine Foods (NASDAQ CALM) traded down $1.25 during mid-day trading on Friday, hitting $44.20. 492,562 shares of the stock traded hands, compared to its average volume of 413,436. The firm has a market capitalization of $2,150.00, a price-to-earnings ratio of -34.26 and a beta of 0.76. Cal-Maine Foods has a twelve month low of $33.40 and a twelve month high of $50.40. The company has a quick ratio of 1.85, a current ratio of 2.78 and a debt-to-equity ratio of 0.01.
Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Friday, January 5th. The basic materials company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.15). Cal-Maine Foods had a negative net margin of 5.18% and a negative return on equity of 1.15%. The business had revenue of $361.20 million during the quarter, compared to analyst estimates of $370.85 million. During the same quarter in the prior year, the company earned ($0.48) earnings per share. The firm’s revenue for the quarter was up 42.5% compared to the same quarter last year. sell-side analysts expect that Cal-Maine Foods will post 1 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new position in shares of Cal-Maine Foods in the 2nd quarter valued at $385,000. Aperio Group LLC boosted its holdings in shares of Cal-Maine Foods by 21.5% in the 2nd quarter. Aperio Group LLC now owns 13,043 shares of the basic materials company’s stock valued at $517,000 after purchasing an additional 2,309 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Cal-Maine Foods by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,020 shares of the basic materials company’s stock valued at $278,000 after purchasing an additional 280 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Cal-Maine Foods by 138.3% in the 2nd quarter. Bessemer Group Inc. now owns 3,649 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 2,118 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Cal-Maine Foods by 22.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 226,366 shares of the basic materials company’s stock valued at $8,965,000 after purchasing an additional 42,128 shares during the last quarter. Hedge funds and other institutional investors own 62.97% of the company’s stock.
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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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