Cal-Maine Foods (NASDAQ:CALM) Hits New 1-Year Low - What's Next?

Key Points

• Cal-Maine Foods shares hit a new 52-week low, falling to approximately $71.70 and trading below both their 50-day and 200-day moving averages.
• The company reported a significant quarterly earnings miss, posting a loss of $0.76 per share versus the expected $0.08 profit, while revenue declined 49.9% year over year to $552.6 million.
• Analyst sentiment remains mostly neutral: the consensus rating is “Hold” with a $90 target price, although some firms downgraded the stock and Goldman Sachs set a lower $70 target.

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $71.73 and last traded at $71.6950, with a volume of 502639 shares changing hands. The stock had previously closed at $72.53.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada set a $100.00 price target on Cal-Maine Foods in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Cal-Maine Foods from a "hold" rating to a "sell" rating in a research report 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 note on Thursday, July 23rd. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a report on Monday, July 13th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $70.00 price target on shares of Cal-Maine Foods in a research note on Friday. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $90.00.

Cal-Maine Foods Price Performance

The firm has a market capitalization of $3.37 billion, a P/E ratio of 10.98 and a beta of 0.23. The firm has a 50-day moving average price of $81.91 and a two-hundred day moving average price of $80.27.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted 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). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The company had revenue of $552.58 million during the quarter, compared to the consensus estimate of $563.83 million. During the same quarter in the previous year, the company posted $7.04 earnings per share. The company's revenue for the quarter was down 49.9% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CoreCap Advisors LLC grew its position in Cal-Maine Foods by 13.5% in the second quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company's stock valued at $93,000 after acquiring an additional 137 shares in the last quarter. Royce & Associates LP raised its stake in shares of Cal-Maine Foods by 2.0% during the fourth quarter. Royce & Associates LP now owns 8,389 shares of the basic materials company's stock valued at $668,000 after purchasing an additional 162 shares during the period. DGS Capital Management LLC lifted its position in shares of Cal-Maine Foods by 6.7% during the first quarter. DGS Capital Management LLC now owns 2,932 shares of the basic materials company's stock worth $232,000 after purchasing an additional 183 shares in the last quarter. Stegent Equity Advisors Inc. boosted its stake in shares of Cal-Maine Foods by 4.0% in the first quarter. Stegent Equity Advisors Inc. now owns 5,279 shares of the basic materials company's stock valued at $418,000 after purchasing an additional 202 shares during the period. Finally, Navellier & Associates Inc. boosted its stake in shares of Cal-Maine Foods by 0.7% in the second quarter. Navellier & Associates Inc. now owns 33,262 shares of the basic materials company's stock valued at $2,680,000 after purchasing an additional 229 shares during the period. Institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a leading producer and distributor of shell eggs in the United States. The company manages a vertically integrated business that includes egg production, processing, packaging, marketing and distribution. Its products are sold to retail grocery chains, foodservice customers, food processors and institutional buyers.

Cal-Maine offers conventional shell eggs as well as specialty products, including cage-free, organic, brown, free-range and nutritionally enhanced eggs.

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