Cal-Maine Foods Inc (CALM) is Downgraded by DA Davidson to Underperform, Lowers Price Target to $ 45

Cal-Maine Foods Inc (CALM) was Downgraded by DA Davidson to ” Underperform” while Lowering the Price Target of the company shares to $ 45 from a previous price target of $55 . Earlier the firm had a rating of “Neutral ” on the company shares. DA Davidson advised their investors in a research report released on May 9, 2016.

Many Wall Street Analysts have commented on Cal-Maine Foods Inc. Shares were Downgraded by DA Davidson on Mar 29, 2016 to ” Neutral” and Lowered the Price Target to $ 55 from a previous price target of $60 .Cal-Maine Foods Inc was Downgraded by Sidoti to ” Neutral” on Mar 29, 2016. Cal-Maine Foods Inc was Downgraded by BB&T Capital Mkts to ” Underweight” on Mar 4, 2016.

On the company’s financial health, Cal-Maine Foods Inc reported $1.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.34 according to the earnings call on Mar 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $449.80 million for the quarter, compared to analysts expectations of $442.48 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

Cal-Maine Foods Inc closed down -0.78 points or -1.49% at $51.65 with 7,27,501 shares getting traded on Friday. Post opening the session at $52.2, the shares hit an intraday low of $50.86 and an intraday high of $52.28 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Feb 5, 2016, Charles Jeff Hardin (Vice President Marketing) sold 1,481 shares at $48.73 per share price. According to the SEC, on Jan 27, 2016, James E Poole (director) sold 2,000 shares at $49.07 per share price. On Apr 30, 2015, Timothy A Dawson (Vice President, CFO, Sec/Treas) sold 6,000 shares at $44.84 per share price, according to the Form-4 filing with the securities and exchange commission.

Cal-Maine Foods Inc. is a producer and marketer of shell eggs in the United States. The Company’s primary business is the production grading packaging marketing and distribution of shell eggs. The Company sells its shell eggs in the southwestern southeastern mid-western and mid-Atlantic regions of the United States. The Company markets its shell eggs through its distribution network to a group of customers including national and regional grocery store chains club stores foodservice distributors and egg product consumers. Some of its sales are completed through co-pack agreements. It has a total flock of approximately 33.7 million layers and 8.4 million pullets and breeders. The Company markets its specialty shell eggs under brands such as Egg-Land’s Best Land O’ Lakes Farmhouse and 4-Grain. The Company also produces markets and distributes private label specialty shell eggs to several customers.

Cal-Maine Foods Inc

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