Sanderson Farms (SAFM) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a hold rating to a buy rating in a research report sent to investors on Saturday, BidAskClub reports.

Several other analysts have also issued reports on the stock. ValuEngine upgraded shares of Sanderson Farms from a buy rating to a strong-buy rating in a research report on Saturday. Buckingham Research upped their price target on shares of Sanderson Farms from $115.00 to $138.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of Sanderson Farms from an underweight rating to a neutral rating and upped their price target for the stock from $88.00 to $127.00 in a research report on Wednesday, March 13th. Stephens initiated coverage on shares of Sanderson Farms in a research report on Monday, March 4th. They issued an equal weight rating and a $130.00 price target for the company. Finally, BMO Capital Markets upped their price target on shares of Sanderson Farms from $95.00 to $115.00 and gave the stock a market perform rating in a research report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $116.25.

Shares of NASDAQ SAFM opened at $139.52 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.82 and a quick ratio of 1.48. The company has a market cap of $3.11 billion, a P/E ratio of 46.20 and a beta of 0.78. Sanderson Farms has a 12-month low of $93.98 and a 12-month high of $141.37.

Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Tuesday, February 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.82) by $1.00. The company had revenue of $743.40 million during the quarter, compared to analyst estimates of $705.25 million. Sanderson Farms had a negative net margin of 0.24% and a negative return on equity of 0.04%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.24 earnings per share. Equities research analysts anticipate that Sanderson Farms will post 2.6 EPS for the current year.

In related news, Director John Bierbusse sold 677 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $113.94, for a total transaction of $77,137.38. Following the completion of the transaction, the director now owns 12,675 shares in the company, valued at $1,444,189.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lampkin Butts sold 10,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $127.82, for a total transaction of $1,278,200.00. Following the transaction, the insider now owns 121,611 shares of the company’s stock, valued at approximately $15,544,318.02. The disclosure for this sale can be found here. Corporate insiders own 5.55% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Suntrust Banks Inc. boosted its position in shares of Sanderson Farms by 4.0% during the fourth quarter. Suntrust Banks Inc. now owns 2,244 shares of the company’s stock worth $222,000 after acquiring an additional 87 shares during the last quarter. We Are One Seven LLC raised its stake in Sanderson Farms by 5.3% during the fourth quarter. We Are One Seven LLC now owns 2,942 shares of the company’s stock valued at $292,000 after purchasing an additional 149 shares in the last quarter. Arizona State Retirement System raised its stake in Sanderson Farms by 1.1% during the fourth quarter. Arizona State Retirement System now owns 14,425 shares of the company’s stock valued at $1,432,000 after purchasing an additional 155 shares in the last quarter. Formidable Asset Management LLC raised its stake in Sanderson Farms by 1.6% during the fourth quarter. Formidable Asset Management LLC now owns 10,773 shares of the company’s stock valued at $1,070,000 after purchasing an additional 167 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in Sanderson Farms by 33.0% during the fourth quarter. Advisor Group Inc. now owns 874 shares of the company’s stock valued at $86,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

About Sanderson Farms

Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets.

Read More: What does EPS mean?

Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

Receive News & Ratings for Sanderson Farms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanderson Farms and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit