Cal-Maine Foods Inc. (CALM) Stock Rating Upgraded by Vetr Inc.
Vetr upgraded shares of Cal-Maine Foods Inc. (NASDAQ:CALM) from a buy rating to a strong-buy rating in a report published on Wednesday morning. They currently have $48.33 target price on the stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Cal-Maine Foods from a strong sell rating to a buy rating and set a $47.00 price objective on the stock in a research report on Monday, August 15th. BB&T Corp. raised shares of Cal-Maine Foods from an underweight rating to a hold rating in a research report on Thursday, June 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $52.87.
Cal-Maine Foods (NASDAQ:CALM) opened at 42.88 on Wednesday. Cal-Maine Foods has a 52-week low of $39.60 and a 52-week high of $63.25. The firm has a 50-day moving average of $43.45 and a 200-day moving average of $46.26. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 6.57 and a beta of 0.70.
Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Monday, July 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.18. Cal-Maine Foods had a net margin of 16.56% and a return on equity of 36.02%. The firm had revenue of $303 million for the quarter, compared to analyst estimates of $304.29 million. During the same period in the prior year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Cal-Maine Foods will post $1.23 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Cal-Maine Foods during the fourth quarter worth approximately $19,056,000. Sigma Planning Corp acquired a new position in Cal-Maine Foods during the first quarter worth approximately $962,000. Boston Advisors LLC raised its position in Cal-Maine Foods by 519.5% in the first quarter. Boston Advisors LLC now owns 121,014 shares of the company’s stock worth $6,282,000 after buying an additional 101,479 shares in the last quarter. IMS Capital Management raised its position in Cal-Maine Foods by 22.5% in the first quarter. IMS Capital Management now owns 5,590 shares of the company’s stock worth $290,000 after buying an additional 1,025 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised its position in Cal-Maine Foods by 80.2% in the first quarter. Commonwealth Equity Services Inc now owns 61,656 shares of the company’s stock worth $3,201,000 after buying an additional 27,436 shares in the last quarter. 64.19% of the stock is currently owned by institutional investors and hedge funds.
About Cal-Maine Foods
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.
To view Vetr’s full report, visit Vetr’s official website.
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