Cal-Maine Foods (NASDAQ:CALM) Hits New 52-Week High – Still a Buy?

Cal-Maine Foods, Inc. (NASDAQ:CALM) hit a new 52-week high on Tuesday . The company traded as high as $95.74 and last traded at $95.50, with a volume of 186536 shares traded. The stock had previously closed at $93.97.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CALM. Stephens started coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price on the stock. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Friday, November 15th.

Cal-Maine Foods Stock Performance

The business’s 50-day moving average price is $85.49 and its 200 day moving average price is $71.72. The stock has a market capitalization of $4.70 billion, a PE ratio of 10.97 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The company had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. During the same quarter last year, the firm earned $0.02 EPS. The business’s revenue was up 71.1% on a year-over-year basis. As a group, equities research analysts predict that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current year.

Hedge Funds Weigh In On Cal-Maine Foods

Several large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new position in Cal-Maine Foods in the 2nd quarter worth about $25,000. Harbor Capital Advisors Inc. purchased a new stake in Cal-Maine Foods during the 3rd quarter valued at $29,000. Hexagon Capital Partners LLC increased its holdings in shares of Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Cal-Maine Foods in the third quarter worth $33,000. Finally, Quarry LP lifted its holdings in shares of Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 553 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.