Cal-Maine Foods (NASDAQ:CALM) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a sell rating to a hold rating in a research note released on Saturday, BidAskClub reports.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Cal-Maine Foods from a hold rating to a strong-buy rating and set a $50.00 price target for the company in a research report on Wednesday, May 6th. Stephens reaffirmed an overweight rating and set a $55.00 target price (up from $47.00) on shares of Cal-Maine Foods in a research report on Tuesday, March 31st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Cal-Maine Foods presently has an average rating of Buy and an average target price of $52.50.

NASDAQ CALM opened at $43.98 on Friday. The firm has a market capitalization of $2.11 billion, a P/E ratio of -34.36 and a beta of -0.12. The business has a fifty day simple moving average of $43.38 and a 200 day simple moving average of $40.53. Cal-Maine Foods has a 12 month low of $30.74 and a 12 month high of $46.65.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Monday, March 30th. The basic materials company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. The business had revenue of $345.60 million during the quarter, compared to analyst estimates of $338.32 million. Cal-Maine Foods had a negative return on equity of 6.18% and a negative net margin of 5.25%. Cal-Maine Foods’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. As a group, research analysts anticipate that Cal-Maine Foods will post 0.49 EPS for the current fiscal year.

In other news, VP Charles Jeff Hardin sold 958 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $43.46, for a total transaction of $41,634.68. Following the completion of the sale, the vice president now directly owns 4,221 shares of the company’s stock, valued at approximately $183,444.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 33.03% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in Cal-Maine Foods in the 1st quarter worth about $26,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Cal-Maine Foods in the 4th quarter worth about $29,000. Versant Capital Management Inc increased its holdings in Cal-Maine Foods by 167.0% in the 1st quarter. Versant Capital Management Inc now owns 777 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 486 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Cal-Maine Foods by 332.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 900 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 692 shares during the last quarter. Finally, Fieldpoint Private Securities LLC increased its holdings in Cal-Maine Foods by 76.6% in the 4th quarter. Fieldpoint Private Securities LLC now owns 1,443 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 626 shares during the last quarter. 61.10% of the stock is owned by institutional investors.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

Recommended Story: What is the Shanghai Stock Exchange Composite Index?

Receive News & Ratings for Cal-Maine Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cal-Maine Foods and related companies with MarketBeat.com's FREE daily email newsletter.