Cal-Maine Foods (CALM) Shares Up 7%

Cal-Maine Foods Inc (NASDAQ:CALM) shot up 7% on Monday . The company traded as high as $43.95 and last traded at $43.65. 957,016 shares were traded during mid-day trading, an increase of 49% from the average session volume of 641,423 shares. The stock had previously closed at $40.80.

A number of brokerages recently weighed in on CALM. BidaskClub cut shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Cleveland Research raised shares of Cal-Maine Foods from a “sell” rating to a “neutral” rating in a report on Saturday, December 30th. Zacks Investment Research cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Stephens raised shares of Cal-Maine Foods from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $35.00 to $50.00 in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Cal-Maine Foods has a consensus rating of “Hold” and a consensus target price of $39.00.

The company has a current ratio of 2.78, a quick ratio of 1.85 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2,080.00, a price-to-earnings ratio of -33.10 and a beta of 0.76.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Friday, January 5th. The basic materials company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.15). Cal-Maine Foods had a negative net margin of 5.18% and a negative return on equity of 1.15%. The business had revenue of $361.20 million during the quarter, compared to analysts’ expectations of $370.85 million. During the same period in the previous year, the company posted ($0.48) earnings per share. Cal-Maine Foods’s quarterly revenue was up 42.5% on a year-over-year basis. analysts anticipate that Cal-Maine Foods Inc will post 1 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of Cal-Maine Foods by 22.9% during the second quarter. Public Employees Retirement System of Ohio now owns 3,161 shares of the basic materials company’s stock worth $125,000 after acquiring an additional 590 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Cal-Maine Foods during the third quarter worth about $127,000. PNC Financial Services Group Inc. increased its stake 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 worth $135,000 after acquiring an additional 1,111 shares during the period. Sei Investments Co. increased its stake 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 worth $160,000 after acquiring an additional 1,156 shares during the period. Finally, Aviance Capital Management LLC acquired a new position in shares of Cal-Maine Foods during the second quarter worth about $191,000. 62.97% of the stock is owned by institutional investors and hedge funds.

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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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