Upgrade Alert for Cal-Maine Foods (CALM)
Cal-Maine Foods (NASDAQ:CALM) was upgraded from Underweight to Hold at BB&T Capital today. The stock closed yesterday at $41.19 on volume of 961,000 shares, above average daily volume of 744,000.
Cal-Maine Foods, Inc. produces, cleans, grades, packs, and sells fresh shell eggs. The Company markets its products in various states in the Southwestern, Southeastern, Midwestern, and Mid-Atlantic regions of the United States.
In the past 52 weeks, shares of Cal-Maine Foods have traded between a low of $39.60 and a high of $63.25 and closed yesterday at $41.19, which is 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.
Cal-Maine Foods has overhead space with shares priced $41.19, or 38.8% below the average consensus analyst price target of $67.33. The stock should run into initial resistance at its 50-day moving average (MA) of $51.83 and subsequent resistance at its 200-day MA of $52.32.
SmarTrend recommended that its subscribers protect gains by selling shares of Cal-Maine Foods on May 9th, 2016 by issuing a Downtrend alert when the shares were trading at $49.40. Since that call, shares of Cal-Maine Foods have fallen 18.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades cal-maine foods