Sanderson Farms, Inc. (SAFM) Rating Lowered to Equal Weight at Stephens
Sanderson Farms, Inc. (NASDAQ:SAFM) was downgraded by equities research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Thursday, The Fly reports.
A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. BMO Capital Markets reiterated a “hold” rating and set a $130.00 target price on shares of Sanderson Farms in a research report on Tuesday, June 27th. Jefferies Group LLC reiterated a “sell” rating and set a $85.00 target price on shares of Sanderson Farms in a research report on Friday, June 9th. Finally, Mizuho began coverage on Sanderson Farms in a research report on Wednesday, June 7th. They set a “buy” rating and a $142.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $119.44.
Shares of Sanderson Farms (NASDAQ SAFM) opened at 143.70 on Thursday. Sanderson Farms has a 52 week low of $74.07 and a 52 week high of $145.02. The stock has a market capitalization of $3.27 billion, a P/E ratio of 14.75 and a beta of 0.62. The company has a 50-day moving average of $125.45 and a 200-day moving average of $111.74.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, May 25th. The company reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.22. The firm had revenue of $802 million during the quarter, compared to the consensus estimate of $769.47 million. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.11 EPS. On average, analysts anticipate that Sanderson Farms will post $10.96 EPS for the current year.
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In related news, Director Phil K. Livingston sold 500 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $121.50, for a total transaction of $60,750.00. Following the sale, the director now owns 9,673 shares in the company, valued at approximately $1,175,269.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dianne Mooney sold 1,103 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $117.69, for a total value of $129,812.07. Following the sale, the director now owns 13,072 shares in the company, valued at approximately $1,538,443.68. The disclosure for this sale can be found here. Corporate insiders own 5.66% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its stake in Sanderson Farms by 6.9% in the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after buying an additional 62 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Sanderson Farms during the second quarter valued at $125,000. PNC Financial Services Group Inc. raised its stake in Sanderson Farms by 144.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock valued at $130,000 after buying an additional 662 shares during the last quarter. Strs Ohio raised its stake in Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $161,000 after buying an additional 900 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its stake in Sanderson Farms by 49.9% in the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock valued at $173,000 after buying an additional 499 shares during the last quarter.
About Sanderson Farms
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.
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