Cal-Maine Foods (NASDAQ:CALM) Stock Rating Lowered by ValuEngine

Cal-Maine Foods (NASDAQ:CALM) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Cal-Maine Foods from a “sell” rating to a “hold” rating and set a $42.00 target price on the stock in a research report on Tuesday. Stephens set a $45.00 target price on Cal-Maine Foods and gave the stock a “hold” rating in a research report on Monday, September 23rd. Finally, BidaskClub upgraded Cal-Maine Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $43.50.

CALM traded up $0.31 during trading on Wednesday, reaching $37.97. 313,823 shares of the stock were exchanged, compared to its average volume of 360,345. The business’s 50 day moving average price is $42.55 and its two-hundred day moving average price is $41.49. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 32.73 and a beta of 0.39. Cal-Maine Foods has a 1 year low of $36.65 and a 1 year high of $50.69.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, September 30th. The basic materials company reported ($0.94) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.78). The firm had revenue of $241.20 million for the quarter, compared to analysts’ expectations of $251.33 million. Cal-Maine Foods had a positive return on equity of 0.07% and a negative net margin of 0.31%. The firm’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Equities research analysts anticipate that Cal-Maine Foods will post -0.34 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in shares of Cal-Maine Foods by 125.7% in the third quarter. State of Alaska Department of Revenue now owns 23,266 shares of the basic materials company’s stock valued at $929,000 after acquiring an additional 12,958 shares in the last quarter. Hancock Whitney Corp purchased a new stake in shares of Cal-Maine Foods in the second quarter valued at $4,565,000. Atria Investments LLC purchased a new stake in shares of Cal-Maine Foods in the second quarter valued at $290,000. Royal Bank of Canada lifted its position in shares of Cal-Maine Foods by 462.0% in the second quarter. Royal Bank of Canada now owns 368,608 shares of the basic materials company’s stock valued at $15,380,000 after acquiring an additional 303,018 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Cal-Maine Foods in the second quarter valued at $5,467,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

About Cal-Maine Foods

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

Further Reading: Cash Asset Ratio

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