Sanderson Farms (SAFM) Upgraded at BidaskClub

BidaskClub upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a buy rating to a strong-buy rating in a report published on Saturday morning.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Sanderson Farms from a hold rating to a sell rating in a research report on Wednesday, December 12th. Jefferies Financial Group restated a sell rating and set a $77.00 price target on shares of Sanderson Farms in a research report on Wednesday, December 19th. ValuEngine upgraded shares of Sanderson Farms from a hold rating to a buy rating in a research report on Thursday, November 1st. Finally, Barclays lowered their price target on shares of Sanderson Farms from $110.00 to $105.00 and set an equal weight rating for the company in a research report on Tuesday, December 18th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $97.67.

Sanderson Farms stock opened at $114.04 on Friday. The stock has a market cap of $2.48 billion, a PE ratio of 37.76 and a beta of 0.54. Sanderson Farms has a one year low of $93.98 and a one year high of $137.54.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, December 20th. The company reported ($1.63) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.54). The firm had revenue of $798.00 million for the quarter, compared to the consensus estimate of $787.31 million. Sanderson Farms had a return on equity of 2.10% and a net margin of 1.90%. The firm’s revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.20 EPS. On average, research analysts expect that Sanderson Farms will post -0.3 EPS for the current fiscal year.

In related news, Director Jones Gail Pittman sold 300 shares of the stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $97.01, for a total value of $29,103.00. Following the completion of the transaction, the director now owns 16,403 shares in the company, valued at approximately $1,591,255.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stone Ridge Asset Management LLC grew its position in Sanderson Farms by 19.8% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 8,959 shares of the company’s stock valued at $926,000 after buying an additional 1,478 shares in the last quarter. Commonwealth Bank of Australia bought a new position in shares of Sanderson Farms during the 3rd quarter valued at about $682,000. Hodges Capital Management Inc. boosted its position in shares of Sanderson Farms by 50.0% during the 3rd quarter. Hodges Capital Management Inc. now owns 115,954 shares of the company’s stock valued at $11,986,000 after purchasing an additional 38,645 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Sanderson Farms by 20,261.4% during the 3rd quarter. Panagora Asset Management Inc. now owns 14,253 shares of the company’s stock valued at $1,473,000 after purchasing an additional 14,183 shares in the last quarter. Finally, Dean Capital Management bought a new position in shares of Sanderson Farms during the 2nd quarter valued at about $1,649,000. Hedge funds and other institutional investors own 98.04% of the company’s stock.

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 pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form 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 in the export markets.

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Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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