Sanderson Farms (NASDAQ:SAFM) Stock Rating Lowered by BidaskClub

Share on StockTwits

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

SAFM has been the topic of several other reports. Buckingham Research set a $81.00 target price on shares of MSC Industrial Direct and gave the stock a hold rating in a report on Thursday, April 11th. ValuEngine upgraded shares of Yandex from a hold rating to a buy rating in a report on Saturday, April 13th. Cleveland Research upgraded shares of Pilgrim’s Pride from a neutral rating to a buy rating in a report on Wednesday, May 22nd. Barclays set a $145.00 target price on shares of Sanderson Farms and gave the stock a hold rating in a report on Friday, May 31st. Finally, TheStreet lowered shares of Zimmer Biomet from a b- rating to a c rating in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Sanderson Farms has a consensus rating of Hold and a consensus target price of $124.13.

Shares of SAFM stock opened at $129.82 on Friday. Sanderson Farms has a 52-week low of $93.98 and a 52-week high of $154.82. The company has a market capitalization of $2.98 billion, a PE ratio of 42.99 and a beta of 0.81. The company has a current ratio of 3.42, a quick ratio of 1.72 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $138.46.

Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, May 30th. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.06. The firm had revenue of $845.23 million for the quarter, compared to analysts’ expectations of $846.70 million. Sanderson Farms had a negative net margin of 0.28% and a negative return on equity of 0.13%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. As a group, analysts forecast that Sanderson Farms will post 6.22 EPS for the current year.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Sanderson Farms by 1.1% during the fourth quarter. BlackRock Inc. now owns 2,314,543 shares of the company’s stock worth $229,810,000 after acquiring an additional 26,282 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Sanderson Farms by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,590 shares of the company’s stock worth $168,157,000 after acquiring an additional 186,527 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Sanderson Farms by 1.3% during the first quarter. Victory Capital Management Inc. now owns 1,018,542 shares of the company’s stock worth $134,285,000 after acquiring an additional 12,947 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Sanderson Farms by 0.8% during the first quarter. Clearbridge Investments LLC now owns 547,349 shares of the company’s stock worth $72,163,000 after acquiring an additional 4,266 shares during the period. Finally, Norges Bank acquired a new stake in shares of Sanderson Farms during the fourth quarter worth $34,883,000. Institutional investors and hedge funds own 99.52% 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.

Featured Article: How are capital gains distributions different for tax-deferred account?

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.