Cal-Maine Foods (NASDAQ:CALM) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a sell rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “

Several other analysts have also commented on the stock. ValuEngine lowered shares of Cal-Maine Foods from a buy rating to a hold rating in a research report on Wednesday, May 29th. BidaskClub raised shares of Cal-Maine Foods from a sell rating to a hold rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $42.00.

Shares of CALM stock opened at $43.06 on Friday. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 37.12 and a beta of 0.40. Cal-Maine Foods has a 52 week low of $36.65 and a 52 week high of $51.55. The firm’s 50-day simple moving average is $40.38 and its two-hundred day simple moving average is $41.78.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.15). The company had revenue of $280.60 million during the quarter, compared to the consensus estimate of $294.23 million. Cal-Maine Foods had a return on equity of 5.67% and a net margin of 3.98%. The business’s revenue was down 36.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 EPS. As a group, analysts expect that Cal-Maine Foods will post -0.34 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oakworth Capital Inc. bought a new stake in shares of Cal-Maine Foods in the second quarter valued at approximately $44,000. NEXT Financial Group Inc raised its position in shares of Cal-Maine Foods by 28.6% in the second quarter. NEXT Financial Group Inc now owns 1,350 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 300 shares during the period. Intercontinental Wealth Advisors LLC raised its position in shares of Cal-Maine Foods by 27.6% in the first quarter. Intercontinental Wealth Advisors LLC now owns 2,318 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 502 shares during the period. Advisor Group Inc. raised its position in shares of Cal-Maine Foods by 17.5% in the second quarter. Advisor Group Inc. now owns 2,574 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 383 shares during the period. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Cal-Maine Foods in the first quarter valued at approximately $161,000. 65.87% of the stock is currently owned by institutional investors.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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