Sanderson Farms, Inc. SAFM was a big mover last session, as the company saw its shares rise just over 7% on the day. The upside was driven by analyst firm CLSA Americas’ positive comments that the poor performance in the chicken commodities markets could finally hit bottom and produce a turnaround in the near future. This led to solid volume too with far more shares changing hands than in a normal session. Yesterday’s rally breaks the recent trend of the company, as the stock is now trading above the volatile price range of $67.57 to $74.81 in the past one-month time frame.
The company has seen no estimate revisions over the past 30 days, while the Zacks Consensus Estimate remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Sanderson Farms currently carries a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the same industry is Tyson Foods, Inc. TSN, which carries a Zacks Rank #2 (Buy).
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