Zacks Investment Research upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a report published on Monday morning, Zacks.com reports. They currently have $43.00 target price 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. “
Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Cal-Maine Foods from a hold rating to a sell rating in a research note on Saturday, January 11th. Stephens set a $45.00 price target on shares of Cal-Maine Foods and gave the company a hold rating in a research note on Monday, September 23rd. ValuEngine downgraded shares of Cal-Maine Foods from a strong-buy rating to a buy rating in a research report on Tuesday, December 24th. Finally, Cleveland Research raised shares of Cal-Maine Foods from an underperform rating to a neutral rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $44.00.
CALM opened at $38.38 on Monday. Cal-Maine Foods has a 1-year low of $36.65 and a 1-year high of $47.00. The company has a market cap of $1.87 billion, a P/E ratio of 33.09 and a beta of 0.41. The company has a fifty day moving average price of $42.21 and a two-hundred day moving average price of $41.50.
Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.24). Cal-Maine Foods had a negative net margin of 2.94% and a negative return on equity of 3.40%. The company had revenue of $311.50 million during the quarter, compared to the consensus estimate of $327.90 million. During the same period last year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. As a group, analysts forecast that Cal-Maine Foods will post 0.23 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new stake in shares of Cal-Maine Foods during the third quarter worth about $130,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Cal-Maine Foods during the first quarter worth about $161,000. Bank of Montreal Can increased its position in shares of Cal-Maine Foods by 109.0% during the second quarter. Bank of Montreal Can now owns 4,349 shares of the basic materials company’s stock worth $181,000 after acquiring an additional 2,268 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Cal-Maine Foods during the third quarter worth about $228,000. Finally, Fox Run Management L.L.C. purchased a new position in Cal-Maine Foods during the third quarter worth about $279,000. 67.04% of the stock is owned by institutional investors.
About Cal-Maine Foods
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.
Recommended Story: How prevalent are 12b-1 fees?
Get a free copy of the Zacks research report on Cal-Maine Foods (CALM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cal-Maine Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cal-Maine Foods and related companies with MarketBeat.com's FREE daily email newsletter.