Boston, MA 05/16/2014 (wallstreetpr) – Sanderson Farms, Inc. (NASDAQ:SAFM) continues to attract favorable analyst reviews. The company earned a “strong buy” recommendation from Zacks as the analysts cited positive prospects in the poultry market. The high demand for beef has led to higher prices and consumers can be seen shifting to poultry products. The trouble in the pork market where producers are battling a serious virus also comes as a blessing for poultry producers. Analysts believe that the ongoing capacity upgrade at Sanderson Farms, Inc. (NASDAQ:SAFM) not only signal optimism in the management but positions the company to capitalize on the long-term market opportunities. The company reported earnings of $1.25 per share in the last quarter, suggesting a significant improvement from a loss of $0.10 per share suffered a year earlier. The earnings in the latest quarter also demolished Zacks’ consensus estimate of $0.94 per share.
Reading International, Inc. (NASDAQ:RDI) has entered into a contract for the sale of its undeveloped land in Burwood, Victoria, Australia. The sale of the 50.6 acre parcel will generate AUS$65 million or about $59.1 million. The property will be sold to an affiliate of Australand Holdings Limited. The company said the transaction is not subject to board approval conditions or any due diligence. It anticipates the sale to close around May 23. The company will receive AUS$6.5 million in upfront payment on the closing of the sale and the balance will be paid by December 31, 2017. Reading said the property has a book value of AUS$52.1 million. However, the AUS$65 million price reflects the company’s aggregate interest and costs during the period of ownership. The latest deal becomes the second land transaction that Reading International, Inc. (NASDAQ:RDI) is undertaking in 12 months following the October 2013 sale of a 3.3 acre property for AUS$23 million. The company looks forward to gaining about AUS$88 million through the transaction by end of 2017.
Analysts anticipate positive stock trend in Standard Motor Products, Inc. (NYSE:SMP). Although shares of the company have already registered impressive momentum as can be seen in the 12.15 percent gain in the last one month and 11.14 percent gain since the beginning of 2014, analysts believe the shares still have enough upside potential. Zacks rates Standard Motor Products, Inc. (NYSE:SMP) a “buy.”
