Sanderson Farms, Inc. (SAFM) Earns “Market Perform” Rating from BMO Capital Markets
Sanderson Farms, Inc. (NASDAQ:SAFM)‘s stock had its “market perform” rating restated by research analysts at BMO Capital Markets in a report released on Friday. They currently have a $150.00 target price on the stock, up from their prior target price of $130.00. BMO Capital Markets’ target price would indicate a potential upside of 6.20% from the stock’s current price.
Several other research firms also recently weighed in on SAFM. Stephens downgraded Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price objective for the company. in a report on Thursday, August 17th. Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a report on Friday, August 11th. J P Morgan Chase & Co restated a “neutral” rating and issued a $129.00 price objective (up from $112.00) on shares of Sanderson Farms in a report on Thursday. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Jefferies Group LLC restated a “sell” rating and issued a $85.00 price objective on shares of Sanderson Farms in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Sanderson Farms has a consensus rating of “Hold” and an average target price of $125.45.
Sanderson Farms (NASDAQ:SAFM) traded down 0.49% during midday trading on Friday, reaching $140.55. 188,413 shares of the company’s stock were exchanged. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 11.28 and a beta of 0.62. The firm has a 50-day moving average price of $129.90 and a 200 day moving average price of $114.04. Sanderson Farms has a 12-month low of $74.07 and a 12-month high of $148.33.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, beating the consensus estimate of $3.47 by $1.62. The firm had revenue of $931.90 million during the quarter, compared to the consensus estimate of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 earnings per share. On average, analysts expect that Sanderson Farms will post $12.54 EPS for the current fiscal year.
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In other Sanderson Farms news, Director Dianne Mooney sold 1,103 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $117.69, for a total value of $129,812.07. Following the completion of the transaction, the director now directly owns 13,072 shares in the company, valued at $1,538,443.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.66% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SAFM. Koch Industries Inc. purchased a new position in shares of Sanderson Farms during the second quarter worth approximately $309,000. Verition Fund Management LLC purchased a new position in shares of Sanderson Farms during the second quarter worth approximately $514,000. Piedmont Investment Advisors LLC purchased a new position in shares of Sanderson Farms during the second quarter worth approximately $500,000. Sterling Capital Management LLC increased its position in shares of Sanderson Farms by 8.3% in the second quarter. Sterling Capital Management LLC now owns 10,830 shares of the company’s stock worth $1,252,000 after buying an additional 829 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Sanderson Farms by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 16,426 shares of the company’s stock worth $1,900,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 99.99% of the company’s stock.
Sanderson Farms Company Profile
Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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