Cal-Maine Foods (CALM) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research report report published on Friday morning.

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. “

Several other equities analysts have also recently weighed in on the company. Cleveland Research raised Cal-Maine Foods from a sell rating to a neutral rating in a research note on Friday. BidaskClub cut Cal-Maine Foods from a strong-buy rating to a buy rating in a research note on Saturday, December 9th. Finally, Stephens raised Cal-Maine Foods from an equal weight rating to an overweight rating and boosted their price target for the company from $35.00 to $50.00 in a research note on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $39.75.

Cal-Maine Foods (NASDAQ CALM) traded down $0.05 during trading hours on Friday, reaching $43.90. The company’s stock had a trading volume of 307,388 shares, compared to its average volume of 331,087. The company has a current ratio of 6.67, a quick ratio of 4.14 and a debt-to-equity ratio of 0.01. Cal-Maine Foods has a 52 week low of $33.40 and a 52 week high of $50.40. The stock has a market cap of $2,130.00, a PE ratio of -35.69 and a beta of 0.77.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Monday, October 2nd. The basic materials company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.18). Cal-Maine Foods had a negative net margin of 5.41% and a negative return on equity of 6.97%. The business had revenue of $262.80 million for the quarter, compared to analysts’ expectations of $265.50 million. During the same period last year, the firm earned ($0.64) EPS. The company’s revenue was up 9.6% compared to the same quarter last year. sell-side analysts forecast that Cal-Maine Foods will post 0.9 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new stake in Cal-Maine Foods in the 2nd quarter worth approximately $78,336,000. Brandes Investment Partners LP acquired a new stake in Cal-Maine Foods in the 2nd quarter worth approximately $11,874,000. Robecosam AG acquired a new stake in Cal-Maine Foods in the 2nd quarter worth approximately $7,647,000. Royce & Associates LP lifted its holdings in Cal-Maine Foods by 18.3% in the 3rd quarter. Royce & Associates LP now owns 1,099,910 shares of the basic materials company’s stock worth $45,206,000 after purchasing an additional 170,304 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Cal-Maine Foods by 481.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 141,400 shares of the basic materials company’s stock worth $5,812,000 after purchasing an additional 117,100 shares during the last quarter. 62.97% of the stock is owned by institutional investors and hedge funds.

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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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