Zacks Investment Research cut shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research report released on Friday.

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 equities analysts also recently weighed in on the company. Stephens raised Cal-Maine Foods from an equal weight rating to an overweight rating and raised their price objective for the company from $35.00 to $50.00 in a research note on Tuesday, October 3rd. BidaskClub downgraded Cal-Maine Foods from a strong-buy rating to a buy rating in a research note on Saturday, December 9th. Finally, Cleveland Research raised Cal-Maine Foods from a sell rating to a neutral rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $39.75.

Cal-Maine Foods (NASDAQ CALM) opened at $43.90 on Friday. Cal-Maine Foods has a one year low of $33.40 and a one year high of $50.40. The firm has a market capitalization of $2,130.00, a P/E ratio of -35.69 and a beta of 0.77. The company has a quick ratio of 4.14, a current ratio of 6.67 and a debt-to-equity ratio of 0.01.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Monday, October 2nd. The basic materials company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.18). Cal-Maine Foods had a negative net margin of 5.41% and a negative return on equity of 6.97%. The firm had revenue of $262.80 million during the quarter, compared to analysts’ expectations of $265.50 million. During the same period in the previous year, the business earned ($0.64) earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. equities analysts predict that Cal-Maine Foods will post 0.9 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its position in Cal-Maine Foods by 2.2% during the third quarter. California Public Employees Retirement System now owns 61,028 shares of the basic materials company’s stock worth $2,508,000 after buying an additional 1,328 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Cal-Maine Foods during the third quarter worth $127,000. Point72 Asset Management L.P. increased its position in Cal-Maine Foods by 481.9% during the third quarter. Point72 Asset Management L.P. now owns 141,400 shares of the basic materials company’s stock worth $5,812,000 after buying an additional 117,100 shares in the last quarter. Janus Henderson Group PLC increased its position in Cal-Maine Foods by 19.4% during the third quarter. Janus Henderson Group PLC now owns 2,361,375 shares of the basic materials company’s stock worth $97,053,000 after buying an additional 383,193 shares in the last quarter. Finally, Diversified Investment Strategies LLC increased its position in Cal-Maine Foods by 36.1% during the third quarter. Diversified Investment Strategies LLC now owns 113,875 shares of the basic materials company’s stock worth $4,680,000 after buying an additional 30,175 shares in the last quarter. 62.97% of the stock is owned by institutional investors.

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About Cal-Maine Foods

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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