Cal-Maine Foods, Inc. (NASDAQ:CALM) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Four of five covering firms rated Cal-Maine Foods a hold, while one issued a buy rating. The average 12-month price target is $94.71, versus a share price of $79.02.
• Quarterly results missed expectations: Cal-Maine reported a loss of $0.76 per share versus the consensus estimate of $0.08 in earnings, while revenue fell 49.9% year over year to $552.58 million.
• Institutional ownership remains high: Institutional investors own 84.67% of the company, with several firms recently initiating or expanding positions in the stock.

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) has been given an average rating of "Hold" by the five ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $94.7143.

A number of equities analysts recently commented on CALM shares. Wall Street Zen lowered Cal-Maine Foods from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Weiss Ratings downgraded shares of Cal-Maine Foods from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. Benchmark restated a "buy" rating on shares of Cal-Maine Foods in a report on Monday, July 13th. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research report on Monday, July 13th. Finally, BMO Capital Markets upped their price objective on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a "market perform" rating in a research note on Thursday, July 23rd.

Institutional Trading of Cal-Maine Foods

Institutional investors have recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new stake in Cal-Maine Foods during the 4th quarter worth about $30,000. IFP Advisors Inc lifted its stake in shares of Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 139 shares during the period. National Bank of Canada FI bought a new stake in shares of Cal-Maine Foods during the 3rd quarter valued at about $42,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Cal-Maine Foods during the 4th quarter valued at about $51,000. Finally, Quarry LP boosted its position in shares of Cal-Maine Foods by 146.6% during the 3rd quarter. Quarry LP now owns 587 shares of the basic materials company's stock valued at $55,000 after purchasing an additional 349 shares in the last quarter. Institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Stock Up 0.1%

Shares of NASDAQ:CALM opened at $79.02 on Wednesday. The firm has a market cap of $3.71 billion, a P/E ratio of 12.06 and a beta of 0.23. Cal-Maine Foods has a 12-month low of $71.92 and a 12-month high of $116.58. The business has a fifty day simple moving average of $84.22 and a 200 day simple moving average of $81.24.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.84). The company had revenue of $552.58 million during the quarter, compared to the consensus estimate of $563.83 million. Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The company's quarterly revenue was down 49.9% on a year-over-year basis. During the same quarter last year, the firm posted $7.04 EPS.

Cal-Maine Foods Company Profile

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.

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