Cal-Maine Foods, Inc. CALM was a big mover last session, as the company saw its shares rise almost 9% on the day. The upside came after the company posted solid third-quarter fiscal 2016 results which led to more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $50.12 to $52.69 since Mar 4.
The company has seen 2 negative estimate revisions in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher can last.
Cal-Maine Foods currently has a Zacks Rank #4 (Sell).
A better-ranked stock in the same space is Campbell Soup Company CPB sporting a Zacks Rank #1 (Strong Buy).
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