Cal-Maine Foods, Inc. (NASDAQ:CALM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $51.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.87% from the stock’s previous close.

According to Zacks, “Cal-Maine Foods, Inc. is engaged in the production, cleaning, grading, and packaging of fresh shell eggs for sale to shell egg retailers. The company is the one of the largest producers and distributors of fresh shell eggs in the United States. The company markets its eggs primarily in the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “

CALM has been the subject of a number of other reports. Stephens upgraded Cal-Maine Foods from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $35.00 to $50.00 in a research note on Tuesday, October 3rd. BidaskClub upgraded Cal-Maine Foods from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $40.08.

Cal-Maine Foods (NASDAQ CALM) traded up $0.15 during trading hours on Friday, reaching $46.00. The company had a trading volume of 412,041 shares, compared to its average volume of 249,520. Cal-Maine Foods has a fifty-two week low of $33.40 and a fifty-two week high of $46.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.67 and a quick ratio of 4.14.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Monday, October 2nd. The basic materials company reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.18). Cal-Maine Foods had a negative net margin of 5.41% and a negative return on equity of 6.97%. The company had revenue of $262.80 million during the quarter, compared to analyst estimates of $265.50 million. During the same quarter in the previous year, the firm earned ($0.64) earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. analysts predict that Cal-Maine Foods will post 0.9 EPS for the current year.

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A number of hedge funds have recently modified their holdings of CALM. Public Employees Retirement System of Ohio boosted its stake in Cal-Maine Foods by 22.9% in the second quarter. Public Employees Retirement System of Ohio now owns 3,161 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 590 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Cal-Maine Foods during the third quarter valued at approximately $127,000. PNC Financial Services Group Inc. raised its holdings in shares of Cal-Maine Foods by 48.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the basic materials company’s stock valued at $135,000 after buying an additional 1,111 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Cal-Maine Foods by 138.3% during the second quarter. Bessemer Group Inc. now owns 3,649 shares of the basic materials company’s stock valued at $145,000 after buying an additional 2,118 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Cal-Maine Foods by 42.4% during the third quarter. Sei Investments Co. now owns 3,882 shares of the basic materials company’s stock valued at $160,000 after buying an additional 1,156 shares during the last quarter. Institutional investors own 60.79% of the company’s stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.

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