Sanderson Farms (NASDAQ:SAFM) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

A number of other analysts also recently weighed in on the stock. Goldman Sachs Group upgraded shares of Sanderson Farms from a sell rating to a neutral rating and increased their price target for the company from $81.00 to $131.00 in a research report on Tuesday, April 23rd. Zacks Investment Research upgraded shares of Sanderson Farms from a hold rating to a buy rating and set a $141.00 price target on the stock in a research report on Tuesday, August 6th. Cleveland Research upgraded shares of Sanderson Farms from a neutral rating to a buy rating in a research report on Wednesday, May 22nd. Barclays set a $145.00 price target on shares of Sanderson Farms and gave the company a hold rating in a research report on Friday, May 31st. Finally, TheStreet upgraded shares of Sanderson Farms from a c+ rating to a b rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $126.00.

Sanderson Farms stock opened at $141.70 on Tuesday. The company has a current ratio of 3.42, a quick ratio of 1.72 and a debt-to-equity ratio of 0.07. Sanderson Farms has a 1 year low of $93.98 and a 1 year high of $154.82. The company has a market cap of $3.14 billion, a PE ratio of 46.92 and a beta of 0.78. The company’s 50-day moving average is $135.71 and its two-hundred day moving average is $134.86.

Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, May 30th. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.06. The company had revenue of $845.23 million for the quarter, compared to the consensus estimate of $846.70 million. Sanderson Farms had a negative net margin of 0.28% and a negative return on equity of 0.13%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 EPS. Research analysts forecast that Sanderson Farms will post 6.22 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, July 30th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.90%. Sanderson Farms’s dividend payout ratio is 42.38%.

Large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC bought a new stake in Sanderson Farms during the 1st quarter worth approximately $26,000. Quantamental Technologies LLC bought a new stake in Sanderson Farms during the 1st quarter worth approximately $30,000. Advisory Services Network LLC increased its stake in Sanderson Farms by 711.8% during the 2nd quarter. Advisory Services Network LLC now owns 276 shares of the company’s stock worth $38,000 after purchasing an additional 242 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Sanderson Farms by 441.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 298 shares of the company’s stock worth $41,000 after purchasing an additional 243 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new stake in Sanderson Farms during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

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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