Sanderson Farms (NASDAQ:SAFM) Downgraded to Sell at BidaskClub

BidaskClub downgraded shares of Sanderson Farms (NASDAQ:SAFM) from a hold rating to a sell rating in a report released on Saturday, BidAskClub reports.

Several other equities analysts have also recently commented on the company. Bank of America raised Sanderson Farms from an underperform rating to a buy rating and upped their price target for the company from $133.00 to $180.00 in a report on Thursday, November 14th. Barclays reaffirmed a hold rating and issued a $175.00 price target (up previously from $145.00) on shares of Sanderson Farms in a report on Friday, December 20th. Buckingham Research upped their price target on Sanderson Farms from $138.00 to $180.00 and gave the company a neutral rating in a report on Friday, December 20th. ValuEngine cut Sanderson Farms from a sell rating to a strong sell rating in a report on Saturday, November 23rd. Finally, Credit Suisse Group initiated coverage on Sanderson Farms in a report on Friday, December 13th. They issued an outperform rating and a $197.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Sanderson Farms has an average rating of Hold and a consensus price target of $143.91.

NASDAQ SAFM opened at $152.74 on Friday. Sanderson Farms has a twelve month low of $111.77 and a twelve month high of $179.45. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 2.69. The stock has a market capitalization of $3.52 billion, a PE ratio of 64.45 and a beta of 0.75. The stock has a 50-day simple moving average of $169.41 and a 200 day simple moving average of $152.62.

Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, December 19th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.33) by $0.38. Sanderson Farms had a return on equity of 3.94% and a net margin of 1.55%. The business had revenue of $906.50 million during the quarter, compared to analysts’ expectations of $888.65 million. During the same quarter in the previous year, the firm earned ($1.63) EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. As a group, equities research analysts forecast that Sanderson Farms will post 11.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, January 28th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. Sanderson Farms’s dividend payout ratio is currently 51.00%.

Several hedge funds have recently added to or reduced their stakes in SAFM. US Bancorp DE grew its stake in shares of Sanderson Farms by 8.7% in the 2nd quarter. US Bancorp DE now owns 10,719 shares of the company’s stock valued at $1,464,000 after purchasing an additional 859 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Sanderson Farms by 441.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 298 shares of the company’s stock valued at $41,000 after purchasing an additional 243 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Sanderson Farms in the 2nd quarter valued at approximately $220,000. Vanguard Group Inc. grew its stake in shares of Sanderson Farms by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,939,007 shares of the company’s stock valued at $264,790,000 after purchasing an additional 100,076 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Sanderson Farms by 0.9% in the 2nd quarter. Invesco Ltd. now owns 60,228 shares of the company’s stock valued at $8,225,000 after purchasing an additional 547 shares during the period. Institutional investors own 88.67% of the company’s stock.

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-packed, chill-packed, bulk-packed, and frozen chicken 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 into export markets.

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Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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