Sanderson Farms, Inc. (NASDAQ:SAFM)’s share price hit a new 52-week high on Friday . The company traded as high as $171.65 and last traded at $169.69, with a volume of 429600 shares changing hands. The stock had previously closed at $166.50.
A number of brokerages have weighed in on SAFM. Stephens reaffirmed an “equal weight” rating and set a $170.00 target price (up previously from $145.00) on shares of Sanderson Farms in a research note on Monday, September 25th. Mizuho downgraded shares of Sanderson Farms from a “buy” rating to a “neutral” rating and raised their target price for the company from $151.00 to $160.00 in a research note on Monday, October 2nd. J P Morgan Chase & Co downgraded shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and raised their target price for the company from $129.00 to $134.00 in a research note on Friday, October 6th. ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $132.00.
The stock has a market capitalization of $3,970.00, a price-to-earnings ratio of 13.67 and a beta of 0.56.
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Sanderson Farms Company Profile
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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