BidaskClub lowered shares of Sanderson Farms (NASDAQ:SAFM) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.
Several other analysts have also recently issued reports on SAFM. Buckingham Research dropped their target price on Sanderson Farms from $95.00 to $90.00 and set a hold rating on the stock in a research report on Thursday, August 16th. Jefferies Financial Group reissued a sell rating and issued a $77.00 price objective on shares of Sanderson Farms in a research report on Thursday, August 23rd. Stephens raised Sanderson Farms from an equal weight rating to an overweight rating and set a $95.00 price objective for the company in a research report on Friday, August 24th. TheStreet cut Sanderson Farms from a b rating to a c+ rating in a research report on Wednesday, August 29th. Finally, ValuEngine raised Sanderson Farms from a hold rating to a buy rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Sanderson Farms has a consensus rating of Hold and an average price target of $98.22.
Shares of NASDAQ SAFM opened at $104.30 on Wednesday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 8.48 and a beta of 0.39. Sanderson Farms has a 12-month low of $95.97 and a 12-month high of $174.42.
Several institutional investors have recently bought and sold shares of SAFM. PNC Financial Services Group Inc. boosted its position in shares of Sanderson Farms by 101.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock worth $100,000 after purchasing an additional 491 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Sanderson Farms by 5,238.1% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock worth $118,000 after purchasing an additional 1,100 shares in the last quarter. Sun Life Financial INC acquired a new stake in shares of Sanderson Farms in the 2nd quarter worth $127,000. Sei Investments Co. boosted its position in shares of Sanderson Farms by 346.3% in the 2nd quarter. Sei Investments Co. now owns 1,589 shares of the company’s stock worth $167,000 after purchasing an additional 1,233 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Sanderson Farms by 722.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,719 shares of the company’s stock worth $178,000 after purchasing an additional 1,510 shares in the last quarter. 98.15% of the stock is owned by hedge funds and other institutional investors.
About Sanderson Farms
Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken in the export markets.
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