Are Sanderson Farms (NASDAQ:SAFM) Shares Headed North? Credit Agricole Issues Upgrade.


Sanderson Farms (NASDAQ:SAFM) Stock Upgrade

Credit Agricole hiked shares of Sanderson Farms (NASDAQ:SAFM) to a solid Outperform rating from the previous Underperform. This important change in rating was issued to investors and clients in analysts report today.

From a total of 6 analysts covering Sanderson Farms Inc. (NASDAQ:SAFM) stock, 2 rate it a ”Buy”, 1 a “Sell”, and 5 a ”Hold”. This means that 25% of the ratings are positive. The highest target price is $95 while the lowest target price is $69. The mean of all analyst targets is $79.25 with a 0.42% above today’s ($76.18) stock price. Sanderson Farms Inc. was the topic of 4 analyst reports since August 26, 2015 according to the firm StockzIntelligence Inc. Sidoti downgraded shares on November 20 to “Neutral” rating.

Approximately 424,877 shares of stock traded hands or 33.78% up from the average. Sanderson Farms, Inc. (NASDAQ:SAFM) has declined 5.94% since April 30, 2015 and is downtrending. It has underperformed by 5.65% the S&P500.

Analysts await Sanderson Farms, Inc. (NASDAQ:SAFM) to reports earnings on December, 17. They expect $2.00 EPS, down 50.50% or $2.04 from last year’s $4.04 per share. SAFM’s profit will be $41.74M for 9.52 P/E if the $2.00 EPS becomes reality. After $2.27 actual EPS reported by Sanderson Farms, Inc. for the previous quarter, Wall Street now forecasts -11.89% negative EPS growth.

Sanderson Farms, Inc. is a poultry processing firm which is engaged in the production, processing, marketing and distribution of fresh and frozen chicken and other prepared chicken items. The company has a market cap of $1.59 billion. In addition, the Company is engaged in the processing, marketing and distribution of prepared chicken through its wholly owned subsidiary, Sanderson Farms, Inc. . It has 6.15 P/E ratio. It produces a range of processed chicken products and prepared chicken items.

According to Zacks Investment Research, “Snderson Farms Inc. is a fully-integrated poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products. The company sells ice pack, chill pack and frozen chicken, in whole, cut-up and boneless form, primarily under the Sanderson Farms7 brand name to retailers, distributors, and fast food operators principally in the southeastern, southwestern and western United States.” Get a free copy of the Zacks research report on Sanderson Farms, Inc. (SAFM).