Zacks Investment Research downgraded shares of Cal-Maine Foods Inc. (NASDAQ:CALM) from a buy rating to a strong sell rating in a research note published on Friday morning.

According to Zacks, “Cal-Maine Foods, Inc. is engaged in the production, cleaning, grading, and packaging of fresh shell eggs for sale to shell egg retailers. The company is the one of the largest producers and distributors of fresh shell eggs in the United States. The company markets its eggs primarily in the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “

A number of other brokerages have also commented on CALM. BB&T Corp. upgraded Cal-Maine Foods from an underweight rating to a hold rating in a research report on Thursday, June 16th. Vetr lowered Cal-Maine Foods from a strong-buy rating to a buy rating and set a $45.66 target price on the stock. in a research report on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $52.87.

Shares of Cal-Maine Foods (NASDAQ:CALM) opened at 42.23 on Friday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 6.47 and a beta of 0.70. Cal-Maine Foods has a one year low of $39.60 and a one year high of $63.25. The firm’s 50-day moving average is $43.47 and its 200-day moving average is $46.20.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Monday, July 18th. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.18. Cal-Maine Foods had a return on equity of 36.02% and a net margin of 16.56%. The business had revenue of $303 million for the quarter, compared to analyst estimates of $304.29 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The company’s revenue was down 24.8% on a year-over-year basis. Equities research analysts forecast that Cal-Maine Foods will post $1.29 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Cal-Maine Foods during the fourth quarter valued at $19,056,000. Aberdeen Asset Management PLC UK increased its position in Cal-Maine Foods by 94.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 696,032 shares of the company’s stock valued at $30,848,000 after buying an additional 338,261 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Cal-Maine Foods during the second quarter valued at approximately $11,765,000. Emerald Acquisition Ltd. purchased a new position in Cal-Maine Foods during the second quarter valued at approximately $8,831,000. Finally, Credit Suisse AG increased its position in Cal-Maine Foods by 546.4% in the second quarter. Credit Suisse AG now owns 196,529 shares of the company’s stock valued at $8,710,000 after buying an additional 166,124 shares in the last quarter. 63.77% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:CALM

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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cal-Maine Foods Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.