Cal-Maine Foods (CALM) Downgraded by BidaskClub to “Sell”

BidaskClub downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a sell rating in a research report released on Friday, January 5th.

Several other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Cal-Maine Foods from a hold rating to a buy rating and set a $51.00 price target on the stock in a report on Friday, November 17th. Stephens raised shares of Cal-Maine Foods from an equal weight rating to an overweight rating and lifted their price target for the company from $35.00 to $50.00 in a report on Tuesday, October 3rd. Finally, Cleveland Research raised shares of Cal-Maine Foods from a sell rating to a neutral rating in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Cal-Maine Foods presently has an average rating of Hold and a consensus target price of $39.00.

Cal-Maine Foods (CALM) traded down $1.25 on Friday, hitting $44.20. 492,500 shares of the company were exchanged, compared to its average volume of 590,633. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 2.78. The stock has a market capitalization of $2,146.97, a P/E ratio of -34.26 and a beta of 0.76. Cal-Maine Foods has a one year low of $33.40 and a one year high of $50.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Friday, January 5th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.15). Cal-Maine Foods had a negative return on equity of 1.15% and a negative net margin of 5.18%. The business had revenue of $361.20 million during the quarter, compared to analysts’ expectations of $370.85 million. During the same period in the previous year, the business posted ($0.48) EPS. The business’s quarterly revenue was up 42.5% compared to the same quarter last year. research analysts predict that Cal-Maine Foods will post 1 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in Cal-Maine Foods by 19.4% during the third quarter. Janus Henderson Group PLC now owns 2,361,375 shares of the basic materials company’s stock valued at $97,053,000 after acquiring an additional 383,193 shares during the last quarter. Aberdeen Asset Management PLC UK increased its stake in shares of Cal-Maine Foods by 6.2% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,610,763 shares of the basic materials company’s stock worth $63,786,000 after acquiring an additional 93,704 shares during the last quarter. Royce & Associates LP increased its stake in shares of Cal-Maine Foods by 18.3% in the 3rd quarter. Royce & Associates LP now owns 1,099,910 shares of the basic materials company’s stock worth $45,206,000 after acquiring an additional 170,304 shares during the last quarter. State Street Corp increased its stake in shares of Cal-Maine Foods by 4.2% in the 2nd quarter. State Street Corp now owns 757,120 shares of the basic materials company’s stock worth $29,984,000 after acquiring an additional 30,863 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Cal-Maine Foods by 2.5% in the 2nd quarter. Northern Trust Corp now owns 497,899 shares of the basic materials company’s stock worth $19,717,000 after acquiring an additional 12,075 shares during the last quarter. Institutional investors own 62.97% of the company’s stock.

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About Cal-Maine Foods

Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.

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