Sanderson Farms (NASDAQ:SAFM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Sanderson Farms, Inc. is engaged in the production, processing, marketing and distribution of fresh, frozen and minimally prepared chicken. As a company, Sanderson Farms is committed to adopting a fresh approach in everything that it does. Not only where products are concerned, but companywide as well. Though the company has grown in size, it still adheres to the same hometown values of honesty, integrity and innovation that were established when the Sanderson family founded the company as a small feed, seed and farm supply business. “

SAFM has been the subject of several other research reports. BMO Capital Markets reaffirmed a “hold” rating and set a $150.00 price target on shares of Sanderson Farms in a research report on Friday, October 13th. Stephens reiterated an “equal weight” rating and set a $170.00 price objective (up from $145.00) on shares of Sanderson Farms in a research note on Monday, September 25th. ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Morgan Stanley began coverage on shares of Sanderson Farms in a research note on Friday, November 3rd. They set an “equal weight” rating and a $140.00 price objective for the company. Finally, Barclays set a $136.00 price objective on shares of Sanderson Farms and gave the stock a “hold” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Sanderson Farms currently has a consensus rating of “Hold” and an average target price of $135.09.

Shares of Sanderson Farms (SAFM) traded up $1.36 during mid-day trading on Thursday, reaching $170.12. 330,628 shares of the company traded hands, compared to its average volume of 403,311. Sanderson Farms has a 1 year low of $84.30 and a 1 year high of $176.43. The firm has a market capitalization of $3,838.35, a price-to-earnings ratio of 13.60 and a beta of 0.61.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Sanderson Farms by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,903,103 shares of the company’s stock valued at $220,094,000 after purchasing an additional 98,236 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Sanderson Farms by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,493,586 shares of the company’s stock valued at $172,735,000 after purchasing an additional 119,111 shares during the period. LSV Asset Management boosted its stake in shares of Sanderson Farms by 4.9% in the second quarter. LSV Asset Management now owns 1,130,321 shares of the company’s stock valued at $130,721,000 after purchasing an additional 53,200 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Sanderson Farms by 4.6% in the second quarter. Renaissance Technologies LLC now owns 1,057,600 shares of the company’s stock valued at $122,311,000 after purchasing an additional 46,600 shares during the period. Finally, State Street Corp boosted its stake in shares of Sanderson Farms by 7.2% in the second quarter. State Street Corp now owns 543,962 shares of the company’s stock valued at $62,910,000 after purchasing an additional 36,489 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

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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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Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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