Cal-Maine Foods (NASDAQ:CALM) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research report released on Wednesday morning.

Separately, Stephens assumed coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective on the stock.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $112.51 on Wednesday. The stock’s fifty day moving average price is $100.45 and its two-hundred day moving average price is $83.69. Cal-Maine Foods has a one year low of $53.38 and a one year high of $114.06. The firm has a market cap of $5.52 billion, a PE ratio of 8.76 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. During the same quarter last year, the company earned $0.35 EPS. The company’s revenue was up 82.5% on a year-over-year basis. Sell-side analysts expect that Cal-Maine Foods will post 8.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cal-Maine Foods

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $29,000. Hexagon Capital Partners LLC increased its stake in shares of Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Krane Funds Advisors LLC bought a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $33,000. Quarry LP increased its stake in shares of Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 553 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Cal-Maine Foods by 62.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 425 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.