Sanderson Farms Reaches New 12-Month High at $99.14 (SAFM)
Sanderson Farms (NASDAQ:SAFM)’s share price reached a new 52-week high during mid-day trading on Tuesday , AmericanBankingNews.com reports. The stock traded as high as $99.14 and last traded at $98.65, with a volume of 180,032 shares traded. The stock had previously closed at $97.20.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Sanderson Farms from $81.00 to $82.00 in a research note on Friday, May 30th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Sanderson Farms from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 29th. They now have a $89.70 price target on the stock. Finally, analysts at Goldman Sachs downgraded shares of Sanderson Farms from a “buy” rating to a “neutral” rating in a research note on Thursday, May 8th. They now have a $80.00 price target on the stock. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $78.34.
The stock’s 50-day moving average is $91.73 and its 200-day moving average is $80.00. The company has a market cap of $2.259 billion and a price-to-earnings ratio of 11.61.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, May 29th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.53. The company had revenue of $660.70 million for the quarter, compared to the consensus estimate of $620.99 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Sanderson Farms will post $9.53 EPS 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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