Cal-Maine Foods (CALM) Ascends While Market Falls: Some Facts to Note
In the latest trading session, Cal-Maine Foods (CALM) closed at $58.49, marking a +1.12% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.41%.
The egg producer's stock has climbed by 4.1% in the past month, falling short of the Basic Materials sector's gain of 4.98% and outpacing the S&P 500's gain of 2.7%.
Market participants will be closely following the financial results of Cal-Maine Foods in its upcoming release.
It is also important to note the recent changes to analyst estimates for Cal-Maine Foods. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Cal-Maine Foods holds a Zacks Rank of #4 (Sell).
In terms of valuation, Cal-Maine Foods is presently being traded at a Forward P/E ratio of 17.27. This valuation marks a discount compared to its industry's average Forward P/E of 17.4.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 217, which puts it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
