Sanderson Farms, Inc. (SAFM) Rating Increased to Buy at Zacks Investment Research
Sanderson Farms, Inc. (NASDAQ:SAFM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $164.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.94% from the company’s current price.
According to Zacks, “Snderson Farms Inc. is a fully-integrated poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products. The company sells ice pack, chill pack and frozen chicken, in whole, cut-up and boneless form, primarily under the Sanderson Farms7 brand name to retailers, distributors, and fast food operators principally in the southeastern, southwestern and western United States. “
A number of other equities analysts have also weighed in on the company. BMO Capital Markets reissued a “hold” rating and issued a $150.00 target price on shares of Sanderson Farms in a research report on Friday. BidaskClub raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Mizuho lowered shares of Sanderson Farms from a “buy” rating to a “neutral” rating and upped their price target for the company from $151.00 to $160.00 in a research report on Monday, October 2nd. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $129.00 price target (up previously from $112.00) on shares of Sanderson Farms in a research report on Thursday, August 24th. Finally, Stephens lowered shares of Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price target for the company. in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Sanderson Farms presently has an average rating of “Hold” and an average target price of $132.18.
Sanderson Farms (SAFM) opened at 143.84 on Tuesday. Sanderson Farms has a 52 week low of $74.07 and a 52 week high of $166.65. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 11.55 and a beta of 0.57. The company’s 50-day moving average is $154.84 and its 200 day moving average is $129.12.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, August 24th. The company reported $5.09 EPS for the quarter, beating the Zacks’ consensus estimate of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The firm had revenue of $931.90 million for the quarter, compared to analysts’ expectations of $921.40 million. During the same quarter in the previous year, the business posted $2.42 EPS. The company’s quarterly revenue was up 28.0% on a year-over-year basis. On average, analysts forecast that Sanderson Farms will post $12.72 EPS for the current fiscal year.
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In related news, Director John Bierbusse sold 625 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $138.03, for a total transaction of $86,268.75. Following the completion of the transaction, the director now directly owns 14,776 shares in the company, valued at approximately $2,039,531.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert C. Khayat sold 1,775 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total value of $252,600.25. Following the transaction, the director now owns 12,043 shares of the company’s stock, valued at $1,713,839.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,400 shares of company stock valued at $771,199. 5.66% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in SAFM. Northcoast Asset Management boosted its stake in Sanderson Farms by 3.3% in the 3rd quarter. Northcoast Asset Management now owns 45,746 shares of the company’s stock worth $3,137,000 after purchasing an additional 1,451 shares during the period. KBC Group boosted its stake in Sanderson Farms by 113.2% in the 3rd quarter. KBC Group now owns 94,994 shares of the company’s stock worth $6,513,000 after purchasing an additional 50,435 shares during the period. Capstone Asset Management Company boosted its stake in Sanderson Farms by 27.0% in the 4th quarter. Capstone Asset Management Company now owns 7,910 shares of the company’s stock worth $613,000 after purchasing an additional 1,680 shares during the period. Shufro Rose & Company boosted its stake in Sanderson Farms by 68.5% in the 4th quarter. Shufro Rose & Company now owns 78,320 shares of the company’s stock worth $6,071,000 after purchasing an additional 31,850 shares during the period. Finally, BTIM Corp. bought a new position in Sanderson Farms in the 4th quarter worth approximately $10,280,000. Institutional investors own 99.88% of the company’s stock.
Sanderson Farms Company Profile
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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