Sanderson Farms (SAFM) is Downgraded by JP Morgan to Neutral

Sanderson Farms (SAFM) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on May 27, 2016.

Many Wall Street Analysts have commented on Sanderson Farms. Sanderson Farms was Downgraded by Goldman to ” Sell” on Mar 15, 2016.

On the company’s financial health, Sanderson Farms reported $2.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.58 according to the earnings call on May 26, 2016. Analyst had a consensus of $1.53. The company had revenue of $692.10 million for the quarter, compared to analysts expectations of $671.26 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.13 EPS.

Sanderson Farms opened for trading at $89.43 and hit $90.6 on the upside on Wednesday, eventually ending the session at $90.12, with a gain of 0.67% or 0.6 points. The heightened volatility saw the trading volume jump to 4,18,006 shares. Company has a market cap of $2,034 M.

In a different news, on Mar 29, 2016, John Bierbusse (director) sold 750 shares at $88.35 per share price. According to the SEC, on Dec 21, 2015, Jones Gail Pittman (director) sold 325 shares at $76.81 per share price. On Jun 10, 2015, Beverly W Hogan (director) sold 6,824 shares at $75.83 per share price, according to the Form-4 filing with the securities and exchange commission.

Sanderson Farms Inc. is a poultry processing company which is engaged in the production processing marketing and distribution of fresh and frozen chicken and other prepared chicken items. In addition the Company is engaged in the processing marketing and distribution of prepared chicken through its wholly owned subsidiary Sanderson Farms Inc. (Foods Division). It produces a range of processed chicken products and prepared chicken items. 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 and casual dining operators in the south-eastern south-western north-eastern and western United States and to customers who resell frozen chicken into export markets. During the fiscal year ended October 31 2013 (fiscal 2013) it processed 452 million chickens or over 3.0 billion dressed pounds.

Sanderson Farms

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