Cal-Maine Foods, Inc. (NASDAQ:CALM) Stock Has Average Target Price of $84.17 According to Brokerages

Cal-Maine Foods, Inc. (NASDAQ:CALM) has received a consensus rating of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $84.17.

A number of equities research analysts have recently weighed in on CALM shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $75.00 price objective (down from $83.00) on shares of Cal-Maine Foods in a research note on Thursday, September 24th. Wells Fargo & Company set a $100.00 price objective on Cal-Maine Foods in a report on Monday, July 13th. The Goldman Sachs Group set a $60.00 target price on Cal-Maine Foods in a research note on Thursday, October 1st. Weiss Ratings lowered Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Finally, Benchmark cut Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a report on Friday, September 4th.

Cal-Maine Foods Stock Performance

CALM stock opened at $60.61 on Thursday. The firm has a market cap of $2.83 billion, a PE ratio of 51.80 and a beta of 0.25. The firm’s 50 day moving average price is $72.45 and its 200-day moving average price is $77.48. Cal-Maine Foods has a one year low of $60.13 and a one year high of $95.25.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, September 30th. The basic materials company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.49). The business had revenue of $539.61 million during the quarter, compared to analyst estimates of $561.57 million. Cal-Maine Foods had a net margin of 2.32% and a return on equity of 2.21%. The company’s revenue was down 41.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.12 earnings per share.

Institutional Trading of Cal-Maine Foods

A number of large investors have recently made changes to their positions in CALM. Cardinal Capital Management increased its position in shares of Cal-Maine Foods by 9.7% in the 3rd quarter. Cardinal Capital Management now owns 26,151 shares of the basic materials company’s stock valued at $1,780,000 after purchasing an additional 2,322 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at $247,000. USA Financial Formulas acquired a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at $38,000. Peddock Capital Advisors LLC raised its holdings in shares of Cal-Maine Foods by 20.1% in the 3rd quarter. Peddock Capital Advisors LLC now owns 11,091 shares of the basic materials company’s stock valued at $755,000 after purchasing an additional 1,855 shares in the last quarter. Finally, Chapin Davis Inc. purchased a new stake in shares of Cal-Maine Foods during the 3rd quarter worth $698,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc (NASDAQ: CALM) is a major producer and distributor of shell eggs in the United States. The company supplies eggs to grocery retailers, foodservice distributors, restaurants, food processors and institutional customers.

Its product portfolio includes conventional shell eggs as well as specialty products such as cage-free, organic, free-range, nutritionally enhanced and omega-3 eggs. Cal-Maine also markets hard-cooked eggs and other value-added egg products through its brands and customer relationships.

Founded in 1969 and headquartered in Jackson, Mississippi, Cal-Maine operates egg production, processing, packaging and distribution facilities in multiple U.S.