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Cal-Maine Foods (CALM) Gains As Market Dips: What You Should Know

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In the latest market close, Cal-Maine Foods (CALM - Free Report) reached $56.09, with a +0.95% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.1%. On the other hand, the Dow registered a gain of 0.33%, and the technology-centric Nasdaq decreased by 0.3%.

The egg producer's shares have seen an increase of 1.18% over the last month, surpassing the Basic Materials sector's loss of 3.83% and falling behind the S&P 500's gain of 5.78%.

The upcoming earnings release of Cal-Maine Foods will be of great interest to investors.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cal-Maine Foods. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.66% decrease. At present, Cal-Maine Foods boasts a Zacks Rank of #3 (Hold).

Investors should also note Cal-Maine Foods's current valuation metrics, including its Forward P/E ratio of 16.58. This denotes a premium relative to the industry's average Forward P/E of 15.39.

The Agriculture - Products industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 232, finds itself in the bottom 8% echelons 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 to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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