BidaskClub Downgrades Sanderson Farms (NASDAQ:SAFM) to Hold

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BidaskClub lowered shares of Sanderson Farms (NASDAQ:SAFM) from a buy rating to a hold rating in a report issued on Thursday, BidAskClub reports.

Several other research firms also recently issued reports on SAFM. ValuEngine downgraded Sanderson Farms from a strong-buy rating to a buy rating in a report on Wednesday, September 4th. Barclays set a $145.00 price objective on Sanderson Farms and gave the stock a hold rating in a report on Friday, May 31st. Zacks Investment Research upgraded Sanderson Farms from a hold rating to a buy rating and set a $141.00 price objective on the stock in a report on Tuesday, August 6th. Cleveland Research upgraded Sanderson Farms from a neutral rating to a buy rating in a report on Wednesday, May 22nd. Finally, TheStreet upgraded Sanderson Farms from a c+ rating to a b rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Sanderson Farms has a consensus rating of Hold and an average price target of $126.00.

Sanderson Farms stock opened at $149.93 on Thursday. The stock’s 50 day moving average price is $142.48 and its 200 day moving average price is $138.32. The firm has a market capitalization of $3.19 billion, a PE ratio of 49.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.41 and a current ratio of 2.94. Sanderson Farms has a one year low of $93.98 and a one year high of $158.32.

Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, August 29th. The company reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.43). Sanderson Farms had a return on equity of 2.86% and a net margin of 0.99%. The business had revenue of $945.10 million for the quarter, compared to analysts’ expectations of $970.10 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Sanderson Farms’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts forecast that Sanderson Farms will post 5.49 earnings per share for the current fiscal year.

In other news, Director Phil K. Livingston sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $153.86, for a total value of $76,930.00. Following the completion of the sale, the director now directly owns 10,366 shares in the company, valued at approximately $1,594,912.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.55% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Texas Permanent School Fund increased its holdings in shares of Sanderson Farms by 0.7% in the 1st quarter. Texas Permanent School Fund now owns 13,238 shares of the company’s stock valued at $1,745,000 after acquiring an additional 86 shares during the last quarter. Hancock Whitney Corp increased its holdings in shares of Sanderson Farms by 1.6% in the 2nd quarter. Hancock Whitney Corp now owns 7,538 shares of the company’s stock valued at $1,029,000 after acquiring an additional 116 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Sanderson Farms by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 14,150 shares of the company’s stock valued at $1,932,000 after acquiring an additional 150 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Sanderson Farms by 1.4% in the 2nd quarter. Prudential Financial Inc. now owns 13,467 shares of the company’s stock valued at $1,839,000 after acquiring an additional 185 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in shares of Sanderson Farms in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Sanderson Farms Company Profile

Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets.

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Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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