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 issued to investors on Saturday, BidAskClub reports.

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

Shares of Cal-Maine Foods stock opened at $43.98 on Friday. The firm has a 50-day moving average of $43.38 and a 200-day moving average of $40.53. The stock has a market cap of $2.11 billion, a PE ratio of -34.36 and a beta of -0.12. Cal-Maine Foods has a 52-week low of $30.74 and a 52-week high of $46.65.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Monday, March 30th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.10. The company had revenue of $345.60 million during the quarter, compared to analysts’ expectations of $338.32 million. Cal-Maine Foods had a negative net margin of 5.25% and a negative return on equity of 6.18%. Cal-Maine Foods’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 earnings per share. Equities analysts anticipate that Cal-Maine Foods will post 0.49 EPS for the current year.

In related news, VP Charles Jeff Hardin sold 958 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were 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 owns 4,221 shares of the company’s stock, valued at $183,444.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 33.03% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. FDx Advisors Inc. acquired a new position in Cal-Maine Foods during the first quarter worth about $348,000. APG Asset Management N.V. acquired a new position in Cal-Maine Foods during the first quarter worth about $12,467,000. Twinbeech Capital LP acquired a new position in Cal-Maine Foods during the first quarter worth about $419,000. Voloridge Investment Management LLC acquired a new position in Cal-Maine Foods during the first quarter worth about $313,000. Finally, Advisor Group Holdings Inc. acquired a new position in Cal-Maine Foods during the first quarter worth about $91,000. 61.10% of the stock is owned by institutional investors and hedge funds.

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.

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