Sanderson Farms Stock Rating Lowered by Zacks (SAFM)
Sanderson Farms (NASDAQ:SAFM) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday, Analyst Ratings Network reports. They currently have a $70.70 price target on the stock. Zacks‘ price target would indicate a potential downside of 2.74% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Sanderson Farms in a research note to investors on Monday, December 16th. They set a “buy” rating on the stock. Separately, analysts at Ned Davis Research downgraded shares of Sanderson Farms from a “buy” rating to a “neutral” rating in a research note to investors on Monday, November 18th. Finally, analysts at Stephens downgraded shares of Sanderson Farms from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, October 21st. They now have a $65.00 price target on the stock, down previously from $81.00. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Sanderson Farms has an average rating of “Hold” and a consensus price target of $68.68.
Shares of Sanderson Farms (NASDAQ:SAFM) traded up 0.79% during mid-day trading on Tuesday, hitting $73.265. The stock had a trading volume of 45,609 shares. Sanderson Farms has a one year low of $48.02 and a one year high of $75.53. The stock’s 50-day moving average is $70.23 and its 200-day moving average is $68.19. The company has a market cap of $1.690 billion and a price-to-earnings ratio of 12.81.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Tuesday, December 17th. The company reported $1.97 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.28 by $0.31. The company had revenue of $727.10 million for the quarter, compared to the consensus estimate of $726.38 million. During the same quarter last year, the company posted $0.41 earnings per share. Sanderson Farms’s revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that Sanderson Farms will post $6.22 earnings per share for the current fiscal year.
Sanderson Farms, Inc is a poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products.
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