Cal-Maine Foods Inc (NASDAQ:CALM) has earned an average rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $41.70.
Several equities research analysts have recently weighed in on the company. BidaskClub downgraded Cal-Maine Foods from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Zacks Investment Research raised Cal-Maine Foods from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Friday, November 17th. Cleveland Research raised Cal-Maine Foods from an “underperform” rating to a “neutral” rating in a report on Friday. Finally, Stephens raised Cal-Maine Foods from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $50.00 in a report on Tuesday, October 3rd.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of Cal-Maine Foods by 8.8% during the second quarter. Legal & General Group Plc now owns 57,945 shares of the basic materials company’s stock worth $2,293,000 after purchasing an additional 4,683 shares during the period. State Street Corp lifted its holdings in shares of Cal-Maine Foods by 4.2% during the second quarter. State Street Corp now owns 757,120 shares of the basic materials company’s stock worth $29,984,000 after purchasing an additional 30,863 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Cal-Maine Foods by 40.8% during the second quarter. TD Asset Management Inc. now owns 52,412 shares of the basic materials company’s stock worth $2,076,000 after purchasing an additional 15,200 shares during the period. Bank of Montreal Can acquired a new stake in shares of Cal-Maine Foods during the second quarter worth $385,000. Finally, Brandes Investment Partners LP acquired a new stake in shares of Cal-Maine Foods during the second quarter worth $11,874,000. 62.97% of the stock is owned by hedge funds and other institutional investors.
Cal-Maine Foods (NASDAQ:CALM) traded down $0.35 during mid-day trading on Friday, hitting $43.95. The stock had a trading volume of 164,900 shares, compared to its average volume of 358,503. Cal-Maine Foods has a 1-year low of $33.40 and a 1-year high of $50.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.67 and a quick ratio of 4.14.
Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Monday, October 2nd. The basic materials company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.18). The firm had revenue of $262.80 million during the quarter, compared to analyst estimates of $265.50 million. Cal-Maine Foods had a negative net margin of 5.41% and a negative return on equity of 6.97%. Cal-Maine Foods’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.64) earnings per share. sell-side analysts predict that Cal-Maine Foods will post 0.9 EPS for the current year.
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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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