Sanderson Farms (NASDAQ:SAFM) Downgraded by BidaskClub

BidaskClub lowered shares of Sanderson Farms (NASDAQ:SAFM) from a buy rating to a hold rating in a research note released on Thursday, BidAskClub reports.

Several other analysts have also recently issued reports on SAFM. Zacks Investment Research raised Sanderson Farms from a hold rating to a buy rating and set a $141.00 price objective on the stock in a report on Tuesday, August 6th. Cleveland Research raised Sanderson Farms from a neutral rating to a buy rating in a report on Wednesday, May 22nd. ValuEngine cut Sanderson Farms from a strong-buy rating to a buy rating in a report on Wednesday, September 4th. TheStreet raised Sanderson Farms from a c+ rating to a b rating in a report on Friday, June 7th. Finally, Barclays set a $145.00 price objective on Sanderson Farms and gave the stock a hold rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $126.00.

SAFM stock traded up $6.08 during midday trading on Thursday, hitting $149.99. The company’s stock had a trading volume of 35,572 shares, compared to its average volume of 336,261. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 49.65 and a beta of 0.73. Sanderson Farms has a 12 month low of $93.98 and a 12 month high of $158.32. The company has a 50 day moving average of $142.11 and a two-hundred day moving average of $138.17. The company has a quick ratio of 1.41, a current ratio of 2.94 and a debt-to-equity ratio of 0.02.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 29th. The company reported $2.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.43). The firm had revenue of $945.10 million for the quarter, compared to analysts’ expectations of $970.10 million. Sanderson Farms had a return on equity of 2.86% and a net margin of 0.99%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. On average, analysts anticipate that Sanderson Farms will post 5.7 earnings per share for the current fiscal year.

In related news, Director Phil K. Livingston sold 500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $153.86, for a total transaction of $76,930.00. Following the sale, the director now owns 10,366 shares in the company, valued at approximately $1,594,912.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.55% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC purchased a new stake in Sanderson Farms during the 1st quarter valued at $30,000. Advisory Services Network LLC raised its holdings in Sanderson Farms by 711.8% during the 2nd quarter. Advisory Services Network LLC now owns 276 shares of the company’s stock valued at $38,000 after buying an additional 242 shares during the period. Tower Research Capital LLC TRC raised its holdings in Sanderson Farms by 441.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 298 shares of the company’s stock valued at $41,000 after buying an additional 243 shares during the period. Oakworth Capital Inc. purchased a new stake in Sanderson Farms during the 2nd quarter valued at $64,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Sanderson Farms during the 2nd quarter valued at $74,000. Institutional investors own 92.14% of the company’s stock.

Sanderson Farms Company Profile

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.

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