Sanderson Farms, Inc. (SAFM) Rating Increased to Strong-Buy at ValuEngine
Sanderson Farms, Inc. (NASDAQ:SAFM) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.
Several other analysts have also recently weighed in on SAFM. Zacks Investment Research cut shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 5th. BMO Capital Markets restated a “hold” rating and set a $130.00 price objective (up previously from $105.00) on shares of Sanderson Farms in a research report on Friday, May 26th. Jefferies Group LLC lowered their price objective on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 30th. Barclays PLC initiated coverage on shares of Sanderson Farms in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $125.00 price objective on the stock. Finally, Mizuho initiated coverage on shares of Sanderson Farms in a research report on Wednesday, June 7th. They set a “buy” rating and a $142.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Sanderson Farms currently has a consensus rating of “Hold” and a consensus price target of $125.45.
Sanderson Farms (NASDAQ:SAFM) traded up 2.73% during mid-day trading on Friday, hitting $151.55. 478,749 shares of the company’s stock were exchanged. Sanderson Farms has a 12 month low of $74.07 and a 12 month high of $151.64. The stock’s 50 day moving average price is $134.21 and its 200-day moving average price is $116.00. The stock has a market cap of $3.45 billion, a PE ratio of 12.17 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.47 by $1.62. The firm had revenue of $931.90 million for the quarter, compared to analysts’ expectations of $921.40 million. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The business’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter last year, the company posted $2.42 EPS. Equities analysts expect that Sanderson Farms will post $12.52 EPS for the current fiscal year.
In related news, Director Fred L. Banks, Jr. sold 3,000 shares of Sanderson Farms stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total value of $432,330.00. Following the transaction, the director now owns 24,948 shares in the company, valued at approximately $3,595,256.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Bierbusse sold 625 shares of Sanderson Farms stock in a transaction on Friday, August 25th. The stock was sold at an average price of $138.03, for a total transaction of $86,268.75. Following the completion of the transaction, the director now owns 14,776 shares in the company, valued at approximately $2,039,531.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,400 shares of company stock worth $771,199. 5.66% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Advisor Group Inc. boosted its position in shares of Sanderson Farms by 6.9% in the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after buying an additional 62 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Sanderson Farms during the second quarter worth approximately $125,000. PNC Financial Services Group Inc. boosted its position in shares of Sanderson Farms by 144.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after buying an additional 662 shares during the last quarter. Strs Ohio boosted its position in shares of Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after buying an additional 900 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its position in shares of Sanderson Farms by 49.9% in the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after buying an additional 499 shares during the last quarter. Institutional investors 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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