Cal-Maine Foods (NASDAQ:CALM) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research note released on Monday morning.

Separately, Stephens started coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target on the stock.

Cal-Maine Foods Stock Up 0.9 %

Shares of CALM stock opened at $102.92 on Monday. Cal-Maine Foods has a twelve month low of $53.02 and a twelve month high of $114.06. The stock’s fifty day simple moving average is $97.02 and its 200 day simple moving average is $80.43. The firm has a market capitalization of $5.05 billion, a P/E ratio of 11.79 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. During the same quarter last year, the business earned $0.02 EPS. The firm’s quarterly revenue was up 71.1% compared to the same quarter last year. As a group, equities research analysts expect that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CALM. Hantz Financial Services Inc. acquired a new stake in shares of Cal-Maine Foods during the second quarter worth $25,000. Harbor Capital Advisors Inc. bought a new stake in Cal-Maine Foods during the third quarter valued at $29,000. Hexagon Capital Partners LLC grew its holdings in Cal-Maine Foods by 57.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 155 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Cal-Maine Foods in the 3rd quarter worth about $33,000. Finally, Quarry LP lifted its stake in shares of Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 553 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

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.