Cal-Maine Foods (CALM) Downgraded by BidaskClub

Cal-Maine Foods (NASDAQ:CALM) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Friday, November 17th. Stephens raised shares of Cal-Maine Foods from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $35.00 to $50.00 in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Cal-Maine Foods presently has a consensus rating of “Hold” and an average price target of $40.08.

Shares of Cal-Maine Foods (NASDAQ CALM) traded up $1.45 during trading hours on Friday, hitting $46.45. 571,706 shares of the company’s stock were exchanged, compared to its average volume of 305,151. Cal-Maine Foods has a 1-year low of $33.40 and a 1-year high of $50.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.67 and a quick ratio of 4.14.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Monday, October 2nd. The basic materials company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). Cal-Maine Foods had a negative return on equity of 6.97% and a negative net margin of 5.41%. The business had revenue of $262.80 million during the quarter, compared to analysts’ expectations of $265.50 million. During the same period in the previous year, the business earned ($0.64) earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. research analysts expect that Cal-Maine Foods will post 0.9 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its stake in shares of Cal-Maine Foods by 19.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,361,375 shares of the basic materials company’s stock worth $97,053,000 after purchasing an additional 383,193 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in shares of Cal-Maine Foods by 6.2% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,610,763 shares of the basic materials company’s stock worth $63,786,000 after purchasing an additional 93,704 shares during the period. Royce & Associates LP boosted its stake in shares of Cal-Maine Foods by 18.3% during the 3rd quarter. Royce & Associates LP now owns 1,099,910 shares of the basic materials company’s stock worth $45,206,000 after purchasing an additional 170,304 shares during the period. State Street Corp boosted its stake in shares of Cal-Maine Foods by 4.2% during the 2nd quarter. State Street Corp now owns 757,120 shares of the basic materials company’s stock worth $29,984,000 after purchasing an additional 30,863 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Cal-Maine Foods by 2.5% during the 2nd quarter. Northern Trust Corp now owns 497,899 shares of the basic materials company’s stock worth $19,717,000 after purchasing an additional 12,075 shares during the period. 66.30% of the stock is owned by hedge funds and other institutional investors.

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About Cal-Maine Foods

Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.

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