KeyBanc Upgrades Sanderson Farms to Overweight

Brokerage firm KeyBanc Upgrades its rating on Sanderson Farms(SAFM). The shares have been rated Overweight. The rating by the stock financial advisor at KeyBanc was issued on Mar 27, 2017 in a research report to their Investors and Clients.

Sanderson Farms (SAFM) made into the market gainers list on Fridays trading session with the shares advancing 1.24% or 1.23 points. Due to strong positive momentum, the stock ended at $100.35, which is also near the day’s high of $101.86. The stock began the session at $99.25 and the volume stood at 5,58,579 shares. The 52-week high of the shares is $101.86 and the 52 week low is $74.07. The company has a current market capitalization of $2,282 M and it has 2,27,40,475 shares in outstanding.

Sanderson Farms(SAFM) last announced its earnings results on Dec 15, 2016 for Fiscal Year 2016 and Q4.Earnings per share were $3.36.

Several Insider Transactions has been reported to the SEC. On Mar 7, 2017, Phil K Livingston (director) sold 1,700 shares at $92.63 per share price.Also, On Feb 24, 2017, Robert C Khayat (director) sold 1,210 shares at $93.81 per share price.On Feb 24, 2017, John Bierbusse (director) sold 750 shares at $94.21 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.

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