Sanderson Farms (SAFM) Upgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. upgraded shares of Sanderson Farms (NASDAQ:SAFM) from an underweight rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat reports. JPMorgan Chase & Co. currently has $127.00 price target on the stock, up from their previous price target of $88.00.

A number of other research analysts have also recently commented on the company. BidaskClub upgraded Sanderson Farms from a hold rating to a buy rating in a research note on Saturday, March 9th. Buckingham Research set a $115.00 target price on Sanderson Farms and gave the company a hold rating in a research note on Tuesday, March 5th. Stephens began coverage on Sanderson Farms in a research note on Monday, March 4th. They issued an equal weight rating and a $130.00 target price for the company. BMO Capital Markets raised their target price on Sanderson Farms from $95.00 to $115.00 and gave the company a market perform rating in a research note on Wednesday, February 27th. Finally, Jefferies Financial Group set a $77.00 target price on Sanderson Farms and gave the company a sell rating in a research note on Tuesday, February 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $113.38.

SAFM opened at $128.41 on Wednesday. The company has a market capitalization of $2.85 billion, a PE ratio of 42.52 and a beta of 0.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.82 and a quick ratio of 1.48. Sanderson Farms has a 52 week low of $93.98 and a 52 week high of $129.50.

Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Tuesday, February 26th. The company reported ($0.82) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.41) by $1.59. The company had revenue of $743.40 million during the quarter, compared to analysts’ expectations of $705.25 million. Sanderson Farms had a negative return on equity of 0.04% and a negative net margin of 0.24%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.24 EPS. As a group, research analysts expect that Sanderson Farms will post 1.23 earnings per share for the current fiscal year.

In other Sanderson Farms news, Director Jones Gail Pittman sold 300 shares of Sanderson Farms stock in a transaction on Wednesday, December 26th. The stock was sold at an average price of $97.01, for a total value of $29,103.00. Following the completion of the sale, the director now owns 16,403 shares of the company’s stock, valued at approximately $1,591,255.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Bierbusse sold 677 shares of Sanderson Farms stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $113.94, for a total value of $77,137.38. Following the completion of the sale, the director now directly owns 12,675 shares of the company’s stock, valued at approximately $1,444,189.50. The disclosure for this sale can be found here. 5.55% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in shares of Sanderson Farms in the 4th quarter worth $29,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Sanderson Farms by 2,890.9% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 329 shares of the company’s stock worth $33,000 after purchasing an additional 318 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Sanderson Farms by 33.0% in the 4th quarter. Advisor Group Inc. now owns 874 shares of the company’s stock worth $86,000 after purchasing an additional 217 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Sanderson Farms by 101.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock worth $100,000 after purchasing an additional 491 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Sanderson Farms by 722.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,719 shares of the company’s stock worth $178,000 after purchasing an additional 1,510 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Sanderson Farms Company Profile

Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets.

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Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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