Sanderson Farms (SAFM) Rating Lowered to Sell at BidaskClub

Sanderson Farms (NASDAQ:SAFM) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

SAFM has been the topic of several other research reports. Morgan Stanley reissued a “hold” rating and issued a $115.00 price target (down previously from $140.00) on shares of Sanderson Farms in a research report on Tuesday, February 27th. ValuEngine lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets reissued a “hold” rating and issued a $130.00 price target on shares of Sanderson Farms in a research report on Friday, February 16th. Mizuho reissued a “hold” rating and issued a $120.00 price target on shares of Sanderson Farms in a research report on Monday, April 23rd. Finally, Vertical Group raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Sanderson Farms presently has an average rating of “Hold” and a consensus target price of $125.33.

Sanderson Farms opened at $111.94 on Wednesday, according to Marketbeat Ratings. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 9.10 and a beta of 0.49. Sanderson Farms has a twelve month low of $110.49 and a twelve month high of $111.86.

Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.71). Sanderson Farms had a net margin of 8.96% and a return on equity of 19.30%. The company had revenue of $771.90 million during the quarter, compared to analysts’ expectations of $764.22 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. equities research analysts anticipate that Sanderson Farms will post 9.23 EPS for the current year.

In related news, Director John Bierbusse sold 750 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.38, for a total transaction of $90,285.00. Following the sale, the director now owns 12,944 shares of the company’s stock, valued at approximately $1,558,198.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SAFM. Renaissance Technologies LLC increased its holdings in Sanderson Farms by 39.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,789,817 shares of the company’s stock worth $248,391,000 after acquiring an additional 501,917 shares during the period. APG Asset Management N.V. increased its holdings in Sanderson Farms by 141.6% during the 4th quarter. APG Asset Management N.V. now owns 425,200 shares of the company’s stock worth $49,142,000 after acquiring an additional 249,200 shares during the period. Scopia Capital Management LP bought a new stake in Sanderson Farms during the 1st quarter worth approximately $28,402,000. Hennessy Advisors Inc. bought a new stake in Sanderson Farms during the 4th quarter worth approximately $27,645,000. Finally, Millennium Management LLC increased its holdings in Sanderson Farms by 970.6% during the 1st quarter. Millennium Management LLC now owns 218,788 shares of the company’s stock worth $26,040,000 after acquiring an additional 198,352 shares during the period.

Sanderson Farms Company Profile

Sanderson Farms, Inc is a poultry processing company that engages in the production, processing, marketing and distribution of fresh, frozen, further processed and partially cooked chicken products. It operates through three divisions: Production, Processing, and Foods. The Production division refers to the production of chickens to the broiler stage.

Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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