Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) have been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $111.75.
SAFM has been the topic of several research analyst reports. Buckingham Research cut their price objective on Sanderson Farms from $111.00 to $104.00 and set a “hold” rating on the stock in a report on Wednesday, April 11th. Barclays reiterated a “hold” rating and issued a $110.00 price objective on shares of Sanderson Farms in a report on Friday, May 25th. Zacks Investment Research downgraded Sanderson Farms from a “hold” rating to a “sell” rating in a report on Saturday, May 19th. BidaskClub upgraded Sanderson Farms from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 12th. Finally, JPMorgan Chase & Co. cut their price objective on Sanderson Farms from $110.00 to $89.00 and set an “underweight” rating on the stock in a report on Friday, June 1st.
Get Sanderson Farms alerts:Shares of SAFM stock traded up $0.93 on Monday, hitting $104.32. The stock had a trading volume of 2,607 shares, compared to its average volume of 536,517. The company has a market capitalization of $2.36 billion, a PE ratio of 8.47 and a beta of 0.39. Sanderson Farms has a 1 year low of $96.80 and a 1 year high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, May 24th. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by ($0.67). The firm had revenue of $813.50 million during the quarter, compared to analysts’ expectations of $839.64 million. Sanderson Farms had a net margin of 8.20% and a return on equity of 16.79%. Sanderson Farms’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.94 EPS. sell-side analysts expect that Sanderson Farms will post 7.55 EPS for the current fiscal year.
Sanderson Farms announced that its Board of Directors has authorized a stock buyback program on Thursday, May 31st that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Sanderson Farms by 2.3% during the 1st quarter. BlackRock Inc. now owns 2,243,330 shares of the company’s stock worth $267,000,000 after acquiring an additional 49,464 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Sanderson Farms by 39.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,789,817 shares of the company’s stock worth $248,391,000 after acquiring an additional 501,917 shares in the last quarter. LSV Asset Management boosted its position in shares of Sanderson Farms by 1.3% during the 1st quarter. LSV Asset Management now owns 1,153,016 shares of the company’s stock worth $137,231,000 after acquiring an additional 15,100 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Sanderson Farms by 6.4% during the 1st quarter. Allianz Asset Management GmbH now owns 417,085 shares of the company’s stock worth $49,642,000 after acquiring an additional 24,990 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Sanderson Farms by 6.6% during the 1st quarter. Wells Fargo & Company MN now owns 341,435 shares of the company’s stock worth $40,637,000 after acquiring an additional 21,270 shares in the last quarter.
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 pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form 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 in the export markets.
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