Sanderson Farms (NASDAQ:SAFM) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a strong sell rating to a sell rating in a research report released on Thursday, ValuEngine reports.

Several other equities analysts also recently weighed in on SAFM. Bank of America raised Sanderson Farms from an underperform rating to a buy rating and raised their price target for the stock from $133.00 to $180.00 in a research report on Thursday. BidaskClub downgraded Sanderson Farms from a buy rating to a hold rating in a research report on Friday, October 18th. Finally, Zacks Investment Research raised Sanderson Farms from a hold rating to a buy rating and set a $141.00 price target for the company in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $131.40.

Sanderson Farms stock traded down $0.62 during mid-day trading on Thursday, reaching $165.13. 294,100 shares of the company were exchanged, compared to its average volume of 424,045. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.41 and a current ratio of 2.94. The firm’s 50-day simple moving average is $148.88 and its two-hundred day simple moving average is $144.56. The firm has a market cap of $3.67 billion, a PE ratio of 54.68 and a beta of 0.73. Sanderson Farms has a twelve month low of $93.98 and a twelve month high of $170.38.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 29th. The company reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.43). The company 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 business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. As a group, equities research analysts anticipate that Sanderson Farms will post 3.13 EPS for the current year.

In other news, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $153.86, for a total value of $76,930.00. Following the completion of the sale, the director now owns 10,366 shares of the company’s stock, valued at $1,594,912.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Lampkin Butts sold 10,000 shares of Sanderson Farms stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $155.17, for a total value of $1,551,700.00. Following the completion of the sale, the chief operating officer now directly owns 104,800 shares of the company’s stock, valued at approximately $16,261,816. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,226 shares of company stock valued at $1,896,747. Company insiders own 5.55% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Advisor Partners LLC purchased a new stake in Sanderson Farms during the second quarter valued at about $202,000. Artemis Investment Management LLP purchased a new stake in Sanderson Farms during the second quarter valued at about $36,474,000. GSA Capital Partners LLP purchased a new stake in Sanderson Farms during the second quarter valued at about $1,100,000. Bank of New York Mellon Corp grew its position in Sanderson Farms by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 299,099 shares of the company’s stock valued at $40,844,000 after acquiring an additional 16,549 shares during the period. Finally, Morgan Stanley grew its position in Sanderson Farms by 231.2% during the second quarter. Morgan Stanley now owns 60,058 shares of the company’s stock valued at $8,202,000 after acquiring an additional 41,925 shares during the period. 92.31% of the stock is owned by institutional investors and hedge funds.

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.

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