Sanderson Farms, Inc. (NASDAQ:SAFM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, October 17th. The brokerage presently has a $164.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.29% from the company’s previous close.
According to Zacks, “Snderson Farms Inc. is a fully-integrated poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products. The company sells ice pack, chill pack and frozen chicken, in whole, cut-up and boneless form, primarily under the Sanderson Farms7 brand name to retailers, distributors, and fast food operators principally in the southeastern, southwestern and western United States. “
A number of other research analysts have also issued reports on SAFM. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $129.00 target price (up from $112.00) on shares of Sanderson Farms in a report on Thursday, August 24th. BidaskClub lowered Sanderson Farms from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Barclays PLC set a $136.00 target price on Sanderson Farms and gave the company a “hold” rating in a report on Friday, August 25th. Stephens reiterated an “equal weight” rating and issued a $170.00 target price (up from $145.00) on shares of Sanderson Farms in a report on Monday, September 25th. Finally, ValuEngine upgraded Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $131.27.
Shares of Sanderson Farms (SAFM) traded down 1.12% during midday trading on Tuesday, reaching $144.41. The company had a trading volume of 51,071 shares. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.59 and a beta of 0.58. The company has a 50 day moving average of $154.41 and a 200 day moving average of $131.40. Sanderson Farms has a 12-month low of $74.07 and a 12-month high of $166.65.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 24th. The company reported $5.09 EPS for the quarter, topping the consensus estimate of $3.47 by $1.62. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The business had revenue of $931.90 million during the quarter, compared to analyst estimates of $921.40 million. During the same period last year, the business posted $2.42 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. Analysts anticipate that Sanderson Farms will post $12.69 EPS for the current year.
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In related news, Director John Bierbusse sold 625 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $138.03, for a total value of $86,268.75. Following the transaction, the director now owns 14,776 shares in the company, valued at approximately $2,039,531.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert C. Khayat sold 1,775 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total value of $252,600.25. Following the sale, the director now directly owns 12,043 shares in the company, valued at approximately $1,713,839.33. The disclosure for this sale can be found here. Insiders sold a total of 5,400 shares of company stock worth $771,199 in the last 90 days. 5.66% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its position in Sanderson Farms by 6.9% during the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after purchasing an additional 62 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in Sanderson Farms during the 2nd quarter worth $125,000. PNC Financial Services Group Inc. boosted its position in Sanderson Farms by 144.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after purchasing an additional 662 shares during the period. Strs Ohio boosted its position in Sanderson Farms by 180.0% during the 2nd quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after purchasing an additional 900 shares during the period. Finally, Riverhead Capital Management LLC boosted its position in Sanderson Farms by 49.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after purchasing an additional 499 shares during the period. Institutional investors and hedge funds own 99.89% of the company’s stock.
Sanderson Farms Company Profile
Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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