BidaskClub Upgrades Cal-Maine Foods (CALM) to Buy

Cal-Maine Foods (NASDAQ:CALM) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently commented on the company. ValuEngine upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Friday. Stephens cut Cal-Maine Foods from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 1st. Finally, Zacks Investment Research cut Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Cal-Maine Foods currently has an average rating of “Hold” and a consensus price target of $54.50.

Cal-Maine Foods stock opened at $45.52 on Friday. Cal-Maine Foods has a 1-year low of $39.50 and a 1-year high of $52.30. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 16.03 and a beta of 0.49.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, October 1st. The basic materials company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.23). Cal-Maine Foods had a return on equity of 16.48% and a net margin of 8.38%. The firm had revenue of $340.60 million for the quarter, compared to analyst estimates of $346.76 million. During the same quarter last year, the firm posted ($0.33) EPS. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. Equities research analysts predict that Cal-Maine Foods will post 3.35 EPS for the current year.

In related news, major shareholder Jean Morris Adams sold 40,149 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $44.95, for a total value of $1,804,697.55. Following the transaction, the insider now owns 1,074,895 shares in the company, valued at approximately $48,316,530.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Max P. Bowman purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The stock was bought at an average price of $45.51 per share, for a total transaction of $91,020.00. Following the transaction, the chief financial officer now directly owns 2,000 shares in the company, valued at $91,020. The disclosure for this purchase can be found here. Insiders have sold 225,000 shares of company stock worth $10,027,482 in the last quarter. Insiders own 33.03% of the company’s stock.

A number of hedge funds have recently modified their holdings of CALM. NEXT Financial Group Inc acquired a new position in Cal-Maine Foods in the 3rd quarter valued at about $133,000. SG Americas Securities LLC acquired a new position in Cal-Maine Foods in the 1st quarter valued at about $140,000. NumerixS Investment Technologies Inc acquired a new position in Cal-Maine Foods in the 2nd quarter valued at about $190,000. United Services Automobile Association acquired a new position in Cal-Maine Foods in the 2nd quarter valued at about $208,000. Finally, Amalgamated Bank acquired a new position in Cal-Maine Foods in the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 59.30% of the company’s stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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