Sanderson Farms, Inc. (SAFM) Receives $136.75 Average Target Price from Analysts

Sanderson Farms, Inc. (NASDAQ:SAFM) has been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $136.75.

A number of equities research analysts recently weighed in on SAFM shares. Zacks Investment Research raised shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. downgraded shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $129.00 to $134.00 in a research note on Friday, October 6th. BMO Capital Markets reissued a “hold” rating and set a $150.00 price target on shares of Sanderson Farms in a research note on Friday, October 13th. Stephens reissued an “equal weight” rating and set a $170.00 price target (up from $145.00) on shares of Sanderson Farms in a research note on Monday, September 25th. Finally, Morgan Stanley started coverage on shares of Sanderson Farms in a research note on Friday, November 3rd. They set an “equal weight” rating and a $140.00 price target for the company.

In other Sanderson Farms news, Director Jones Gail Pittman sold 260 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $140.92, for a total value of $36,639.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.66% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of SAFM. Schwab Charles Investment Management Inc. increased its stake in Sanderson Farms by 8.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 163,142 shares of the company’s stock valued at $18,868,000 after purchasing an additional 12,347 shares in the last quarter. Legal & General Group Plc increased its stake in Sanderson Farms by 9.6% in the second quarter. Legal & General Group Plc now owns 40,443 shares of the company’s stock valued at $4,681,000 after purchasing an additional 3,559 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in Sanderson Farms in the second quarter valued at approximately $509,000. Swiss National Bank increased its stake in Sanderson Farms by 2.1% in the second quarter. Swiss National Bank now owns 34,200 shares of the company’s stock valued at $3,955,000 after purchasing an additional 700 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Sanderson Farms by 3.8% in the second quarter. Franklin Resources Inc. now owns 39,850 shares of the company’s stock valued at $4,608,000 after purchasing an additional 1,450 shares in the last quarter. 99.81% of the stock is owned by hedge funds and other institutional investors.

Shares of Sanderson Farms (SAFM) traded down $0.96 during mid-day trading on Monday, hitting $130.66. 571,939 shares of the stock were exchanged, compared to its average volume of 687,030. The firm has a market capitalization of $3,010.00, a price-to-earnings ratio of 10.62 and a beta of 0.61. Sanderson Farms has a 12 month low of $87.54 and a 12 month high of $176.43.

Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings results on Thursday, December 14th. The company reported $3.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($0.30). The business had revenue of $919.90 million for the quarter, compared to the consensus estimate of $916.07 million. Sanderson Farms had a return on equity of 20.97% and a net margin of 8.34%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the firm earned $3.36 earnings per share. equities research analysts anticipate that Sanderson Farms will post 9.97 EPS for the current year.

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About Sanderson Farms

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.

Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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