Cal-Maine Foods (NASDAQ:CALM) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Cal-Maine Foods (NASDAQ:CALM) from a sell rating to a strong sell rating in a report published on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Benchmark lowered Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Weiss Ratings lowered Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a research report on Monday, July 13th. BMO Capital Markets restated a “market perform” rating and issued a $75.00 price target (down from $83.00) on shares of Cal-Maine Foods in a report on Thursday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $70.00 price target on shares of Cal-Maine Foods in a research report on Friday, September 18th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Cal-Maine Foods has an average rating of “Hold” and a consensus price target of $88.86.

Cal-Maine Foods Stock Down 1.5%

Shares of NASDAQ CALM opened at $67.43 on Friday. Cal-Maine Foods has a 52-week low of $66.62 and a 52-week high of $101.86. The firm has a fifty day moving average of $80.62 and a 200-day moving average of $79.80. The stock has a market capitalization of $3.16 billion, a PE ratio of 10.29 and a beta of 0.23.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The firm had revenue of $552.58 million for the quarter, compared to analyst estimates of $563.83 million. During the same quarter in the previous year, the company earned $7.04 earnings per share. The company’s quarterly revenue was down 49.9% on a year-over-year basis.

Institutional Investors Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently modified their holdings of CALM. Envestnet Portfolio Solutions Inc. grew its stake in shares of Cal-Maine Foods by 4.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,429 shares of the basic materials company’s stock valued at $598,000 after buying an additional 317 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Cal-Maine Foods during the 2nd quarter worth approximately $580,000. NewEdge Advisors LLC boosted its holdings in Cal-Maine Foods by 10.2% in the 2nd quarter. NewEdge Advisors LLC now owns 4,518 shares of the basic materials company’s stock worth $364,000 after acquiring an additional 418 shares during the period. Baird Financial Group Inc. boosted its holdings in Cal-Maine Foods by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 187,732 shares of the basic materials company’s stock worth $15,124,000 after acquiring an additional 6,923 shares during the period. Finally, Waverly Advisors LLC acquired a new stake in Cal-Maine Foods in the second quarter valued at approximately $277,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a leading producer and distributor of shell eggs in the United States. The company manages a vertically integrated business that includes egg production, processing, packaging, marketing and distribution. Its products are sold to retail grocery chains, foodservice customers, food processors and institutional buyers.

Cal-Maine offers conventional shell eggs as well as specialty products, including cage-free, organic, brown, free-range and nutritionally enhanced eggs.