Share on StockTwits

Sanderson Farms (NASDAQ:SAFM) was upgraded by equities research analysts at Ned Davis Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, reports.

A number of other firms have also recently commented on SAFM. Analysts at Credit Agricole initiated coverage on shares of Sanderson Farms in a research note to investors on Thursday, January 16th. They set an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of Sanderson Farms from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, January 14th. They now have a $70.70 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $68.68.

Sanderson Farms (NASDAQ:SAFM) traded up 4.96% during mid-day trading on Tuesday, hitting $76.32. The stock had a trading volume of 96,784 shares. Sanderson Farms has a 52 week low of $48.30 and a 52 week high of $75.53. The stock’s 50-day moving average is $70.67 and its 200-day moving average is $68.34. The company has a market cap of $1.761 billion and a price-to-earnings ratio of 12.81.

Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings results 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.