Sanderson Farms (SAFM) Gets a Buy Rating from J.P. Morgan

In a report released today, Kenneth Goldman from J.P. Morgan maintained a Buy rating on Sanderson Farms (SAFMResearch Report), with a price target of $144.00. The company’s shares closed last Thursday at $107.81, close to its 52-week low of $102.13.

According to TipRanks.com, Goldman is a 5-star analyst with an average return of 6.8% and a 58.8% success rate. Goldman covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Darling Ingredients, and TreeHouse Foods.

Sanderson Farms has an analyst consensus of Moderate Buy, with a price target consensus of $147.20, a 33.0% upside from current levels. In a report issued on March 31, Barclays also upgraded the stock to Buy with a $168.00 price target.

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Based on Sanderson Farms’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $823 million and GAAP net loss of $38.58 million. In comparison, last year the company earned revenue of $743 million and had a GAAP net loss of $17.83 million.

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Sanderson Farms, Inc. is a poultry processing company, which engages in the production, processing, marketing, and distribution of fresh, frozen, further processed, and partially cooked chicken products. It operates through the following divisions: Production, Processing, and Foods. The Production division refers to the production of chickens to the broiler stage. The Processing division involves the processing, sale, and distribution of chickens. The Foods division comprises the processing, marketing, and distribution of prepared chicken items sold nationally and regionally. The firm offers its products under the brand Sanderson Farms. The company was founded by Dewey R. Sanderson, Dewey R. Sanderson, Jr. and Joe Frank Sanderson in 1947 and is headquartered in Laurel, MS.