Sanderson Farms (SAFM) Downgraded by BidaskClub to “Buy”
BidaskClub cut shares of Sanderson Farms (NASDAQ:SAFM) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.
Several other research firms have also recently issued reports on SAFM. Zacks Investment Research cut Sanderson Farms from a hold rating to a sell rating in a report on Thursday, December 21st. KeyCorp started coverage on Sanderson Farms in a report on Tuesday, October 31st. They issued a sector weight rating on the stock. Mizuho set a $150.00 price objective on Sanderson Farms and gave the stock a hold rating in a report on Monday, October 16th. JPMorgan Chase & Co. cut Sanderson Farms from a neutral rating to an underweight rating and lifted their price objective for the stock from $129.00 to $134.00 in a report on Friday, October 6th. Finally, BMO Capital Markets reiterated a hold rating and issued a $140.00 price objective on shares of Sanderson Farms in a report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $137.80.
Sanderson Farms (NASDAQ SAFM) traded up $0.09 during trading hours on Thursday, hitting $133.98. The stock had a trading volume of 805,600 shares, compared to its average volume of 878,900. Sanderson Farms has a 52-week low of $87.54 and a 52-week high of $176.43. The firm has a market cap of $3,050.00, a PE ratio of 10.89 and a beta of 0.61.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, December 14th. The company reported $3.20 EPS for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($0.30). Sanderson Farms had a net margin of 8.34% and a return on equity of 20.97%. The business had revenue of $919.90 million for the quarter, compared to analyst estimates of $916.07 million. During the same quarter last year, the business earned $3.36 earnings per share. Sanderson Farms’s revenue was up 16.3% on a year-over-year basis. equities research analysts anticipate that Sanderson Farms will post 9.97 earnings per share for the current year.
In other Sanderson Farms news, Director Jones Gail Pittman sold 260 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $140.92, for a total value of $36,639.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.66% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its stake in Sanderson Farms by 6.9% in the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after purchasing an additional 62 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Sanderson Farms by 144.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after purchasing an additional 662 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Sanderson Farms by 49.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after purchasing an additional 499 shares in the last quarter. World Asset Management Inc purchased a new position in Sanderson Farms in the 3rd quarter worth approximately $207,000. Finally, Foster & Motley Inc. purchased a new position in Sanderson Farms in the 3rd quarter worth approximately $213,000. 99.81% of the stock is currently owned by institutional investors and hedge funds.
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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