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Sanderson Farms (NASDAQ:SAFM) was down 6.3% during trading on Tuesday following a dissappointing earnings announcement, AmericanBankingNews.com reports. The company traded as low as $87.25 and last traded at $89.09, with a volume of 1,603,289 shares changing hands. The stock had previously closed at $95.12.

The company reported $3.30 earnings per share for the quarter, missing the analysts’ consensus estimate of $3.82 by $0.52. The company had revenue of $768.40 million for the quarter. During the same quarter last year, the company posted $2.95 earnings per share. Sanderson Farms’s revenue was up 4.0% compared to the same quarter last year.

A number of analysts have recently weighed in on SAFM shares. Analysts at Sidoti initiated coverage on shares of Sanderson Farms in a research note on Tuesday, August 19th. They set a “buy” rating on the stock. Separately, analysts at Credit Agricole downgraded shares of Sanderson Farms from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 30th. They now have a $106.00 price target on the stock, up previously from $98.00. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $81.60.

The stock’s 50-day moving average is $96.94 and its 200-day moving average is $86.63. The company has a market cap of $2.050 billion and a price-to-earnings ratio of 11.36.

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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