BMO Capital Markets Lowers Cal-Maine Foods (NASDAQ:CALM) Price Target to $97.00

Cal-Maine Foods (NASDAQ:CALM) had its target price reduced by analysts at BMO Capital Markets from $105.00 to $97.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 4.80% from the stock’s previous close.

Several other analysts have also weighed in on CALM. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a report on Friday. Stephens lifted their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. The Goldman Sachs Group lowered their price target on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Wall Street Zen lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.75.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $92.56 on Friday. The company has a 50-day simple moving average of $107.03 and a 200-day simple moving average of $100.42. The firm has a market capitalization of $4.54 billion, a P/E ratio of 3.56 and a beta of 0.22. Cal-Maine Foods has a 52 week low of $79.44 and a 52 week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing the consensus estimate of $4.55 by ($0.43). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter in the previous year, the business posted $3.06 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current year.

Hedge Funds Weigh In On Cal-Maine Foods

Several hedge funds have recently added to or reduced their stakes in CALM. IFP Advisors Inc raised its holdings in Cal-Maine Foods by 195.1% during the 2nd quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 158 shares during the last quarter. Investment Management Corp VA ADV grew its position in shares of Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock worth $36,000 after buying an additional 248 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cal-Maine Foods during the first quarter worth approximately $52,000. AdvisorNet Financial Inc acquired a new position in Cal-Maine Foods in the second quarter valued at approximately $54,000. Finally, Blue Trust Inc. boosted its stake in Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 493 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.