Barclays reaffirmed their equal weight rating on shares of Sanderson Farms (NASDAQ:SAFM) in a report issued on Thursday morning, Marketbeat reports. Barclays currently has a $150.00 price objective on the stock, up from their prior price objective of $136.00.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Sanderson Farms from a buy rating to a sell rating in a research note on Thursday, October 26th. J P Morgan Chase & Co reiterated a neutral rating and issued a $129.00 price objective (up from $112.00) on shares of Sanderson Farms in a research note on Thursday, August 24th. Stephens reiterated an equal weight rating and issued a $170.00 price objective (up from $145.00) on shares of Sanderson Farms in a research note on Monday, September 25th. ValuEngine upgraded Sanderson Farms from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Finally, BMO Capital Markets reiterated a market perform rating and issued a $150.00 price objective (up from $130.00) on shares of Sanderson Farms in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Sanderson Farms currently has a consensus rating of Hold and an average target price of $138.80.
Sanderson Farms (NASDAQ:SAFM) opened at $143.31 on Thursday. Sanderson Farms has a 52-week low of $87.54 and a 52-week high of $176.43. The company has a market capitalization of $3,271.05, a price-to-earnings ratio of 11.70 and a beta of 0.61.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, December 14th. The company reported $3.20 EPS for the quarter, missing the consensus estimate of $3.50 by ($0.30). The firm had revenue of $919.90 million for the quarter, compared to analysts’ expectations of $916.07 million. Sanderson Farms had a return on equity of 20.97% and a net margin of 8.34%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.36 earnings per share. analysts forecast that Sanderson Farms will post 10.66 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Advisor Group Inc. raised its stake in Sanderson Farms by 6.9% in the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after buying an additional 62 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Sanderson Farms by 144.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock valued at $130,000 after buying an additional 662 shares in the last quarter. World Asset Management Inc acquired a new stake in Sanderson Farms in the third quarter valued at $207,000. Foster & Motley Inc. acquired a new stake in Sanderson Farms in the third quarter valued at $213,000. Finally, Strs Ohio raised its stake in Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $161,000 after buying an additional 900 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.
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About Sanderson Farms
Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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