Zacks Investment Research downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research report released on Tuesday 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. “

Several other analysts have also recently commented on the company. Stephens raised Cal-Maine Foods from an equal weight rating to an overweight rating and raised their target price for the stock from $35.00 to $50.00 in a research report on Tuesday, October 3rd. BidaskClub cut Cal-Maine Foods from a strong-buy rating to a buy rating in a research report on Saturday. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $40.08.

Shares of Cal-Maine Foods (CALM) opened at $45.05 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.14 and a current ratio of 6.67. Cal-Maine Foods has a 12-month low of $33.40 and a 12-month high of $50.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Monday, October 2nd. The basic materials company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.18). The business had revenue of $262.80 million during the quarter, compared to analyst estimates of $265.50 million. Cal-Maine Foods had a negative return on equity of 6.97% and a negative net margin of 5.41%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned ($0.64) EPS. research analysts anticipate that Cal-Maine Foods will post 0.9 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CALM. Teachers Advisors LLC boosted its position in Cal-Maine Foods by 3.6% during the first quarter. Teachers Advisors LLC now owns 52,300 shares of the basic materials company’s stock valued at $1,925,000 after purchasing an additional 1,808 shares during the last quarter. Bank of Montreal Can acquired a new stake in Cal-Maine Foods during the second quarter valued at $385,000. Aperio Group LLC boosted its position in Cal-Maine Foods by 21.5% during the second quarter. Aperio Group LLC now owns 13,043 shares of the basic materials company’s stock valued at $517,000 after purchasing an additional 2,309 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Cal-Maine Foods by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,020 shares of the basic materials company’s stock valued at $278,000 after purchasing an additional 280 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Cal-Maine Foods by 138.3% during the second quarter. Bessemer Group Inc. now owns 3,649 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 2,118 shares during the last quarter. 66.30% of the stock is owned by hedge funds and other institutional investors.

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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.

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