Zacks Investment Research upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a strong-buy rating in a research note released on Friday. They currently have $54.00 price target on the basic materials company’s stock.

According to Zacks, “Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “

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A number of other equities analysts have also weighed in on the company. TheStreet raised Cal-Maine Foods from a c rating to a b rating in a research report on Monday, April 2nd. Stephens boosted their target price on Cal-Maine Foods from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Tuesday, April 3rd. BidaskClub raised Cal-Maine Foods from a hold rating to a buy rating in a research report on Tuesday, March 27th. Finally, Cleveland Research raised Cal-Maine Foods from a sell rating to a neutral rating in a research report on Saturday, December 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $42.50.

Shares of Cal-Maine Foods stock opened at $48.35 on Friday. The stock has a market capitalization of $2,334.34, a P/E ratio of -31.40 and a beta of 0.62. Cal-Maine Foods has a 1 year low of $33.40 and a 1 year high of $50.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Monday, April 2nd. The basic materials company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.01. Cal-Maine Foods had a return on equity of 5.62% and a net margin of 2.23%. The business had revenue of $435.80 million during the quarter, compared to analyst estimates of $404.33 million. During the same quarter in the previous year, the firm earned $0.09 EPS. Cal-Maine Foods’s revenue was up 42.2% on a year-over-year basis. analysts expect that Cal-Maine Foods will post 2.05 earnings per share for the current year.

In other Cal-Maine Foods news, VP Charles Jeff Hardin sold 2,036 shares of the business’s stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $47.39, for a total value of $96,486.04. Following the completion of the transaction, the vice president now owns 3,800 shares of the company’s stock, valued at approximately $180,082. The sale was disclosed in a legal filing with the SEC, which is available through this link. 33.22% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Cal-Maine Foods by 0.6% during the 4th quarter. BlackRock Inc. now owns 3,771,116 shares of the basic materials company’s stock valued at $167,625,000 after purchasing an additional 20,896 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Cal-Maine Foods by 19.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,361,375 shares of the basic materials company’s stock valued at $97,053,000 after purchasing an additional 383,193 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Cal-Maine Foods by 0.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 256,144 shares of the basic materials company’s stock valued at $11,386,000 after purchasing an additional 2,355 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Cal-Maine Foods during the 4th quarter valued at about $6,387,000. Finally, Point72 Asset Management L.P. increased its position in shares of Cal-Maine Foods by 481.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 141,400 shares of the basic materials company’s stock valued at $5,812,000 after purchasing an additional 117,100 shares during the last quarter. 60.38% of the stock is owned by hedge funds and other institutional investors.

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Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.

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