Sanderson Farms, Inc. (NASDAQ:SAFM) Now Covered by KeyCorp

KeyCorp initiated coverage on shares of Sanderson Farms, Inc. (NASDAQ:SAFM) in a report released on Tuesday, October 31st, MarketBeat reports. The brokerage issued a sector weight rating on the stock. KeyCorp also issued estimates for Sanderson Farms’ Q4 2017 earnings at $3.51 EPS, FY2017 earnings at $12.57 EPS, Q1 2018 earnings at $1.77 EPS, Q2 2018 earnings at $2.84 EPS, Q3 2018 earnings at $3.80 EPS, Q4 2018 earnings at $3.02 EPS and FY2018 earnings at $11.45 EPS.

Several other research firms have also commented on SAFM. Zacks Investment Research upgraded shares of Sanderson Farms from a hold rating to a strong-buy rating and set a $133.00 price target for the company in a report on Wednesday, July 5th. BidaskClub lowered shares of Sanderson Farms from a buy rating to a hold rating in a report on Tuesday, July 25th. Stephens lowered shares of Sanderson Farms from an overweight rating to an equal weight rating and set a $145.00 price target for the company. in a report on Thursday, August 17th. J P Morgan Chase & Co reiterated a neutral rating and set a $129.00 price objective (up previously from $112.00) on shares of Sanderson Farms in a research note on Thursday, August 24th. Finally, BMO Capital Markets reiterated a market perform rating and set a $150.00 price objective (up previously from $130.00) on shares of Sanderson Farms in a research note on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $132.00.

Sanderson Farms (NASDAQ SAFM) traded down $2.83 during mid-day trading on Tuesday, hitting $162.35. 406,072 shares of the company were exchanged, compared to its average volume of 417,762. Sanderson Farms has a 52-week low of $74.07 and a 52-week high of $167.32. The stock has a market cap of $3,692.56, a PE ratio of 13.08 and a beta of 0.56.

Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The company had revenue of $931.90 million during the quarter, compared to analyst estimates of $921.40 million. During the same quarter last year, the business posted $2.42 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. analysts anticipate that Sanderson Farms will post 12.76 EPS for the current year.

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In related news, Director Robert C. Khayat sold 1,775 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total transaction of $252,600.25. Following the sale, the director now directly owns 12,043 shares of the company’s stock, valued at $1,713,839.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total transaction of $432,330.00. Following the sale, the director now directly owns 24,948 shares in the company, valued at $3,595,256.28. The disclosure for this sale can be found here. Insiders have sold 5,400 shares of company stock worth $771,199 over the last three months. 5.66% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Advisor Group Inc. raised its position in Sanderson Farms by 6.9% during the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after acquiring an additional 62 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Sanderson Farms during the second quarter worth $125,000. PNC Financial Services Group Inc. raised its position in Sanderson Farms by 144.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after acquiring an additional 662 shares during the period. Strs Ohio raised its position in Sanderson Farms by 180.0% during the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after acquiring an additional 900 shares during the period. Finally, Riverhead Capital Management LLC raised its position in Sanderson Farms by 49.9% during the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after acquiring an additional 499 shares during the period. Institutional investors own 99.95% of the company’s stock.

Sanderson Farms Company Profile

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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