Traders Buy High Volume of Sanderson Farms Put Options (SAFM)
Sanderson Farms, Inc. (NASDAQ:SAFM) was the recipient of unusually large options trading activity on Thursday. Traders bought 1,493 put options on the stock. This is an increase of 694% compared to the average volume of 188 put options.
Sanderson Farms (NASDAQ SAFM) opened at $143.31 on Friday. Sanderson Farms has a one year low of $87.54 and a one year high of $176.43. The company has a market cap of $3,329.05, a price-to-earnings ratio of 11.91 and a beta of 0.61.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, December 14th. The company reported $3.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($0.30). The company had revenue of $919.90 million for the quarter, compared to analysts’ expectations of $916.07 million. Sanderson Farms had a net margin of 8.34% and a return on equity of 20.97%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.36 earnings per share. analysts predict that Sanderson Farms will post 10.73 EPS for the current fiscal year.
Several research analysts recently commented on SAFM shares. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $129.00 target price (up from $112.00) on shares of Sanderson Farms in a research note on Thursday, August 24th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $150.00 target price (up from $130.00) on shares of Sanderson Farms in a research note on Friday, August 25th. Barclays set a $136.00 target price on shares of Sanderson Farms and gave the stock a “hold” rating in a research note on Friday, August 25th. ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $170.00 target price (up from $145.00) on shares of Sanderson Farms in a research note on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $138.80.
About Sanderson Farms
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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