Cal-Maine Foods (NASDAQ:CALM) Stock Rating Lowered by Wall Street Zen

Key Points

• Cal-Maine Foods has been downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating, signaling a shift in analyst sentiment regarding the stock's performance.
• Stephens raised their target price on Cal-Maine Foods from $108 to $115, while BMO Capital Markets increased theirs from $100 to $105, reflecting growing confidence in the stock despite the downgrade.
• In its last earnings report, Cal-Maine Foods reported earnings per share of $7.04, significantly surpassing analysts' estimates, while experiencing a 72.1% increase in revenue year over year.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets raised their target price on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a report on Thursday. Stephens raised their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a report on Thursday.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM traded down $0.94 during midday trading on Friday, reaching $103.98. 476,817 shares of the company's stock were exchanged, compared to its average volume of 977,909. The firm's 50 day simple moving average is $100.06 and its two-hundred day simple moving average is $97.77. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 4.16 and a beta of 0.17. Cal-Maine Foods has a fifty-two week low of $67.40 and a fifty-two week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.29 by $1.75. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $877.03 million. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%. The company's quarterly revenue was up 72.1% on a year-over-year basis. During the same period last year, the company earned $2.32 EPS. Equities research analysts predict that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cal-Maine Foods

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in shares of Cal-Maine Foods by 195.1% in the 2nd quarter. IFP Advisors Inc now owns 239 shares of the basic materials company's stock valued at $25,000 after buying an additional 158 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Cal-Maine Foods in the 1st quarter valued at about $30,000. Investment Management Corp VA ADV boosted its stake in shares of Cal-Maine Foods by 172.2% in the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after buying an additional 248 shares during the period. AdvisorNet Financial Inc purchased a new position in shares of Cal-Maine Foods in the 2nd quarter valued at about $54,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Cal-Maine Foods during the first quarter worth approximately $52,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

About Cal-Maine Foods

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.