Sanderson Farms (SAFM) Rating Lowered to Buy at BidaskClub

Sanderson Farms (NASDAQ:SAFM) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Several other brokerages have also commented on SAFM. Zacks Investment Research upgraded Sanderson Farms from a “strong sell” rating to a “hold” rating in a report on Thursday, December 7th. Stephens reiterated an “equal weight” rating and set a $170.00 price objective (up previously from $145.00) on shares of Sanderson Farms in a report on Monday, September 25th. Mizuho lowered Sanderson Farms from a “buy” rating to a “neutral” rating and increased their price objective for the company from $151.00 to $160.00 in a report on Monday, October 2nd. JPMorgan Chase & Co. lowered Sanderson Farms from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $129.00 to $134.00 in a report on Friday, October 6th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $150.00 price objective on shares of Sanderson Farms in a report on Friday, October 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $137.80.

Shares of Sanderson Farms (SAFM) opened at $133.89 on Thursday. Sanderson Farms has a twelve month low of $87.54 and a twelve month high of $176.43. The company has a market capitalization of $3,055.38, a price-to-earnings ratio of 10.93 and a beta of 0.61.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, December 14th. The company reported $3.20 EPS for the quarter, missing the consensus estimate of $3.50 by ($0.30). Sanderson Farms had a net margin of 8.34% and a return on equity of 20.97%. The business had revenue of $919.90 million for the quarter, compared to analysts’ expectations of $916.07 million. During the same quarter in the prior year, the company posted $3.36 EPS. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. analysts expect that Sanderson Farms will post 10 earnings per share for the current year.

In related news, Director Jones Gail Pittman sold 260 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $140.92, for a total value of $36,639.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.66% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAFM. Aperio Group LLC grew its position in Sanderson Farms by 28.6% during the 3rd quarter. Aperio Group LLC now owns 22,899 shares of the company’s stock worth $3,699,000 after purchasing an additional 5,091 shares during the period. Koch Industries Inc. acquired a new stake in Sanderson Farms during the 2nd quarter worth about $309,000. Schwab Charles Investment Management Inc. grew its position in Sanderson Farms by 6.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 173,971 shares of the company’s stock worth $28,100,000 after purchasing an additional 10,829 shares during the period. Legal & General Group Plc grew its position in Sanderson Farms by 9.6% during the 2nd quarter. Legal & General Group Plc now owns 40,443 shares of the company’s stock worth $4,681,000 after purchasing an additional 3,559 shares during the period. Finally, Aull & Monroe Investment Management Corp acquired a new stake in Sanderson Farms during the 3rd quarter worth about $363,000. 99.81% of the stock is currently owned by hedge funds and other institutional investors.

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About Sanderson Farms

Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.

Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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