Zacks Investment Research upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a strong-buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $48.00 price objective on the basic materials company’s stock.
According to Zacks, “Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “
Other research analysts have also issued reports about the company. BidaskClub lowered Cal-Maine Foods from a strong-buy rating to a buy rating in a research report on Saturday, December 9th. Cleveland Research upgraded Cal-Maine Foods from a sell rating to a neutral rating in a research report on Saturday, December 30th. Three analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cal-Maine Foods currently has an average rating of Hold and an average target price of $38.80.
Cal-Maine Foods (NASDAQ CALM) opened at $42.65 on Thursday. Cal-Maine Foods has a 52-week low of $33.40 and a 52-week high of $50.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 2.78.
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 return on equity of 1.15% and a negative net margin of 5.18%. The firm had revenue of $361.20 million for the quarter, compared to analysts’ expectations of $370.85 million. During the same quarter in the prior year, the business earned ($0.48) earnings per share. The company’s quarterly revenue was up 42.5% on a year-over-year basis. research analysts anticipate that Cal-Maine Foods will post 1.3 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Cal-Maine Foods by 0.6% during the fourth quarter. BlackRock Inc. now owns 3,771,116 shares of the basic materials company’s stock worth $167,625,000 after buying an additional 20,896 shares during the period. Janus Henderson Group PLC raised its stake in shares of Cal-Maine Foods by 19.4% in the third quarter. Janus Henderson Group PLC now owns 2,361,375 shares of the basic materials company’s stock valued at $97,053,000 after acquiring an additional 383,193 shares in the last quarter. Royce & Associates LP raised its stake in shares of Cal-Maine Foods by 18.3% in the third quarter. Royce & Associates LP now owns 1,099,910 shares of the basic materials company’s stock valued at $45,206,000 after acquiring an additional 170,304 shares in the last quarter. State Street Corp raised its stake in shares of Cal-Maine Foods by 4.2% in the second quarter. State Street Corp now owns 757,120 shares of the basic materials company’s stock valued at $29,984,000 after acquiring an additional 30,863 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Cal-Maine Foods by 2.5% in the second quarter. Northern Trust Corp now owns 497,899 shares of the basic materials company’s stock valued at $19,717,000 after acquiring an additional 12,075 shares in the last quarter. Institutional investors and hedge funds own 62.79% of the company’s stock.
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Cal-Maine Foods Company Profile
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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