Cal-Maine Foods, Inc. (NASDAQ:CALM) Stock Now Rated "Hold" by Sell-Side Analysts

Key Points

• Cal-Maine Foods has a consensus “Hold” rating from six analysts, with five holds and one buy. The average 12-month price target is $84.17.
• The stock opened at $60.61, near its 52-week low of $60.13, after declining 1.8%; its 50-day and 200-day moving averages are $72.45 and $77.48, respectively.
• Recent quarterly results were weaker than expected: Cal-Maine reported a $1.26 loss per share versus the $0.77 expected, while revenue fell 41.5% year over year to $539.61 million.

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) has earned a consensus rating of "Hold" from the six brokerages that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $84.17.

A number of equities research analysts recently issued reports on the stock. Raymond James Financial cut shares of Cal-Maine Foods to an "outperform" rating in a research note on Thursday, October 1st. The Goldman Sachs Group set a $60.00 price target on shares of Cal-Maine Foods in a report on Thursday, October 1st. Stephens reduced their price objective on shares of Cal-Maine Foods from $80.00 to $70.00 and set an "equal weight" rating for the company in a research report on Thursday, October 1st. Benchmark cut shares of Cal-Maine Foods from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 4th. Finally, Weiss Ratings downgraded shares of Cal-Maine Foods from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd.

Institutional Investors Weigh In On Cal-Maine Foods

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new stake in Cal-Maine Foods in the 2nd quarter valued at $57,894,000. First Trust Advisors LP increased its stake in shares of Cal-Maine Foods by 29.7% in the 1st quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company's stock worth $122,864,000 after acquiring an additional 355,762 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cal-Maine Foods by 13.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company's stock worth $199,416,000 after acquiring an additional 300,910 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Cal-Maine Foods by 68.8% in the 1st quarter. Janus Henderson Group PLC now owns 353,751 shares of the basic materials company's stock worth $27,997,000 after acquiring an additional 144,140 shares during the last quarter. Finally, Hound Partners LLC raised its holdings in shares of Cal-Maine Foods by 163.6% during the 1st quarter. Hound Partners LLC now owns 203,851 shares of the basic materials company's stock worth $16,135,000 after acquiring an additional 126,510 shares during the period. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Stock Down 1.8%

Shares of CALM stock opened at $60.61 on Thursday. Cal-Maine Foods has a 52-week low of $60.13 and a 52-week high of $95.25. The stock has a market cap of $2.83 billion, a PE ratio of 51.80 and a beta of 0.25. The business has a 50-day simple moving average of $72.45 and a 200-day simple moving average of $77.48.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its earnings results on Wednesday, September 30th. The basic materials company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.49). The firm 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 business's revenue for the quarter was down 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.12 earnings per share.

About Cal-Maine Foods

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.