Cal-Maine Foods, Inc. (NASDAQ:CALM) Stock Has Consensus Price Target of $88.86 According to Brokerages

Cal-Maine Foods, Inc. (NASDAQ:CALM) has been assigned an average rating of “Hold” from the five research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating. The average 12-month price objective among brokers that have covered the stock in the last year is $88.86.

CALM has been the subject of several recent analyst reports. BMO Capital Markets restated a “market perform” rating and set a $75.00 target price (down from $83.00) on shares of Cal-Maine Foods in a research note on Thursday, September 24th. Weiss Ratings lowered Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Wall Street Zen cut Cal-Maine Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday. Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a research note on Monday, July 13th. Finally, Benchmark lowered shares of Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 4th.

Cal-Maine Foods Trading Up 1.8%

NASDAQ CALM opened at $68.55 on Friday. Cal-Maine Foods has a 1 year low of $66.62 and a 1 year high of $96.59. The company has a fifty day simple moving average of $79.83 and a 200 day simple moving average of $79.46. The company has a market cap of $3.22 billion, a P/E ratio of 10.47 and a beta of 0.23.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CALM. Envestnet Portfolio Solutions Inc. raised its position in shares of Cal-Maine Foods by 4.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,429 shares of the basic materials company’s stock valued at $598,000 after buying an additional 317 shares during the last quarter. Engineers Gate Manager LP bought a new position in Cal-Maine Foods during the second quarter valued at about $580,000. NewEdge Advisors LLC raised its holdings in Cal-Maine Foods by 10.2% in the 2nd quarter. NewEdge Advisors LLC now owns 4,518 shares of the basic materials company’s stock valued at $364,000 after acquiring an additional 418 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Cal-Maine Foods by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 187,732 shares of the basic materials company’s stock worth $15,124,000 after acquiring an additional 6,923 shares during the period. Finally, Waverly Advisors LLC acquired a new stake in shares of Cal-Maine Foods during the 2nd quarter worth approximately $277,000. Institutional investors own 84.67% of the company’s stock.

About Cal-Maine Foods

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.