BidaskClub Upgrades Cal-Maine Foods (NASDAQ:CALM) to Hold

BidaskClub upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a sell rating to a hold rating in a report published on Thursday morning, BidAskClub reports.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Cal-Maine Foods from a buy rating to a hold rating in a report on Wednesday, May 29th. Zacks Investment Research downgraded Cal-Maine Foods from a buy rating to a hold rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $42.00.

Shares of CALM stock opened at $43.06 on Thursday. Cal-Maine Foods has a 12 month low of $36.65 and a 12 month high of $51.55. The business’s 50 day moving average is $40.38 and its two-hundred day moving average is $41.78. The company has a market cap of $2.04 billion, a PE ratio of 37.12 and a beta of 0.40.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.15). Cal-Maine Foods had a net margin of 3.98% and a return on equity of 5.67%. The company had revenue of $280.60 million for the quarter, compared to analyst estimates of $294.23 million. During the same quarter last year, the business earned $1.48 EPS. The company’s revenue for the quarter was down 36.7% on a year-over-year basis. On average, sell-side analysts expect that Cal-Maine Foods will post -0.34 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Cal-Maine Foods by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 347,632 shares of the basic materials company’s stock worth $14,704,000 after acquiring an additional 26,728 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Cal-Maine Foods by 0.5% in the first quarter. Rhumbline Advisers now owns 91,181 shares of the basic materials company’s stock worth $4,069,000 after acquiring an additional 477 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Cal-Maine Foods in the first quarter worth $463,000. Empowered Funds LLC acquired a new stake in shares of Cal-Maine Foods in the first quarter worth $2,568,000. Finally, Kendall Capital Management acquired a new stake in shares of Cal-Maine Foods in the first quarter worth $402,000. Institutional investors and hedge funds own 65.87% of the company’s stock.

Cal-Maine Foods Company Profile

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: What is the Ex-Dividend Date in Investing?

Receive News & Ratings for Cal-Maine Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cal-Maine Foods and related companies with MarketBeat.com's FREE daily email newsletter.