10-10-2017: Sanderson Farms, Inc. (SAFM): Third Largest Chicken Producer

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Recommendation

Sanderson Farms, Inc.

Sanderson Farms (SAFM) stock is one of the most fascinating stocks we have reviewed because of its great fundamental strength ratings. One might not think a company entirely focused upon chicken farming and the production of chicken meats would be a fascinating "story stock," but we think it is. It has an exeptionally-high Zenith Index. It is the first time we have every seen all nine of Val Idea's "gurus" unanimously in favor of a stock. The stock has doubled in price in the past year. It competes with the likes of two other major manufacturers, Tyson and Pilgrims Pride, not to mention several smaller ones like Perdue and Foster Farms. But when its balance sheet fundamentals, growth prospects and other factors are placed side by side, it stands out ahead of them.

Unfortunately, while we preparing this article, a major analyst from J.P. Morgan downgraded the stock and gave it a $134 target price (down from $165) and sent the stock tumbling down ten percent in two days, after months of steady "buy and hold" almost straight up action. Reasons given were unclear except that having doubled, it might have "been time for a rest" as some put it. Projected earnings for the stock are lower, and that trend also helped break a long winning streak. But the question remains, "How much lower?" and earnings still look pretty solid. The company is well-managed with good corporate governance having come a long way from a family-owned business startup in the late 1940's in Mississippi to the nation's third largest chicken meat manufacturer today with billions in revenue. The stock pays a slightly less than 1% dividend.

Institutions are net sellers due to profit-taking, but Dimensional Fund Advisors is one of the largest holders (which we regard as a good sign) and is increasing their holdings.

Unlike its competitors, Sanderson Farms has no operations outside the United States. This will impact growth opportunities. There are environmental headwinds with chicken farming affecting most producers. Sanderson is fighting allegations that use of antibiotics is in any way dangerous to humans in the food chain, and in fact is probably better to insure very great environmental concerns shown by the company, even with regard to animal (chicken) welfare. It is one of the most concerned in that area of factory farms. Our traders have personally experienced the quality of Sanderson's products, sold directly to many outlets such as Kroger Grocery stores, and found them far superior to companies like Foster Farms (which sells to Costco) as we have experienced bone splinters, chips and fragments in Foster products (although not those sold through Costco which requires higher standards than other Foster customers.)

Most analysts look more toward Tyson for a "catch-up" stock, but we think the fundamentals do not indicate that any chicken producer stock will be able to touch Sanderson in value for quite a while to come. The company has zero debt.

In comparing Sanderson to its peers, it continues to stand out on key relative valuation parameters with beteter P/E, profit margin, EBITDA margin, return on assets, enterprise value/sales, price to book value, free cash flow margin, and percentage of costs for capital expenditures. It's just a better company all around than most domestic stocks in today's over-valued over-optimistic runaway bull stock market. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Sanderson Farms, Inc. (SAFM)                              Exchange: Nasdaq
127 Flynt Road
Laurel, MS 39443                 Sector: Consumer Goods
United States                    Industry:Food - Major Diversified

Sanderson Farms, Inc., an integrated poultry processing company,
produces, processes, markets, and distributes fresh, frozen, and
prepared chicken products in the United States. The company sells ice
pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and
boneless form primarily under the Sanderson Farms brand name to
retailers, distributors, and casual dining operators in the
southeastern, southwestern, northeastern, and western United States, as
well as to customers who resell frozen chicken in the export markets.
Its prepared chicken product line includes institutional and consumer
packaged partially cooked or marinated chicken items for distributors
and food service establishments. Sanderson Farms, Inc. was founded in
1947 and is headquartered in Laurel, Mississippi.

Last Trade: 160.00                           52-Week Range: 166.65 -  74.07
Employees: 13,232                            Avg.Volume:     510,289 Shares

Corporate Governance:
Pillar scores are Audit: 2; Board: 5; Shareholder Rights: 6; Compensation: 7.
         (A lower number means less governance risk.)

EPS: 12.46    Dividend Amount: $ 1.28          Yield:  0.78%
             Ex-Dividend Date: Jul 28, 2017    Payout Ratio:   7.70

Key Statistics:

    Trailing P/E:  12.00              Forward P/E (est.):  12.60
                                           Target Price: 127.90

Qrtly Stock Price Growth (yoy):  70.32%               Beta:   0.31
Qrtly S&P Index   Growth (yoy):  28.00%        Short Ratio:  13.46%
    Qrtly Revenue Growth (yoy):  17.95%         Shares Out:  22740000
   Qrtly Earnings Growth (yoy):   0.00%

          Book Value:  61.27                    Debt/Equity:   0.00%
    Price/Book Value:   2.44        Operating Profit Margin:  13.44%
         Price/Sales:   1.06                  Profit Margin:   8.80%
         Market Cap:   3,401,000,000       Return on Equity:  22.31%
    Enterprise Value:   3,330,000,000      Return on Assets:  17.42%

    Operating Cash Flow:    407,980,000
         Free Cash Flow:    193,050,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             10/31/2016  10/31/2015  10/31/2014

  Total Revenue                              2,816,057   2,803,480   2,774,845
  Cost of Revenue                            2,362,056   2,312,368   2,253,898
  Gross Profit                                 454,001     491,112     520,947

Operating Expenses:
  Research & Development                             0           0           0
  Selling, General & Administrative            159,890     155,114     139,025
  Non-Recurring Expenses                             0           0           0
  Other Operating Expenses                           0           0           0
  Total Operating Expenses                           0           0           0

Operating Income or Loss                       294,111     335,998     381,922

Income from Continuing Operations:
  Total Other Income/Expenses Net                  274         229         121
  Earnings Before Interest & Taxes             294,385     336,227     382,043
  Interest Expense                               1,708       2,136       2,577
  Income Before Taxes                          292,677     334,091     379,466
  Income Tax Expense                           103,716     118,090     130,418
  Minority Interest                                  0           0           0

Net Income from Continuing Op.s                188,961     216,001     249,048

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                   188,961     216,001     249,048
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares              188,961     216,001     249,048



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         10/31/2016    10/31/2015    10/31/2014

  Net Income                               188,961       216,001       249,048

Operating Activities:
  Depreciation                             100,396        90,729        76,705
  Adjustments to Net Income                 28,373         5,081        -9,867
  Changes in Accounts Recv'bls             -11,574         5,071        -9,316
  Changes in Liabilities                     9,509        -9,984       -12,109
  Changes in Investories                   -21,553        -7,930        15,032
  Changes in other Oper'g Acts              -1,263        -1,162        -3,026

Total Cash Flow f Operations               292,849       297,806       306,467

Investing Activities:
  Capital Exenditures                     -200,882      -158,289      -171,626
  Investments                                    0             0             0
  Other Cash Flows fr Investing                478           848           514

Total Cash Flows from Investing           -200,404      -157,441      -171,112

Financing Activities:
  Dividends Paid                           -42,900       -31,092       -30,453
  Sale of Purchase of Stock                 -6,003       -68,894        -5,658
  Net Borrowings                           -10,000       -10,000       -20,213
  Other Cash Flows fr Financing                  0             0           514

Total Cash Flows from Financing            -54,993      -109,316       -55,308

  Effect of Exchange Rate Chg                    0             0             0

Change in Cash & Cash Equiv.                37,452        31,049        80,047



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          10/31/2016    10/31/2015    10/31/2014
Current Assets:
  Cash & Cash Equivalents                   234,111       196,659       165,610
  Short Term Investments                          0             0             0
  Net Receivables                           124,348       129,338       121,221
  Inventory                                 220,306       198,753       190,823
  Other Current Assets                       34,559        33,331        33,052
  Total Current Assets                      613,324       558,081       510,706

  Long-Term Investments                           0             0             0
  Property, Plant & Equipt                  803,991       682,334       596,125
  Goodwill                                        0             0             0
  Intangible Assets                               0             0             0
  Accumulated Amortization                        0             0             0
  Other Assets                                5,385         6,337         4,421
  Deferred LT Asset Charges                       0             0             0

Total Assets                              1,422,700     1,246,752     1,111,252

Current Liabilities:
  Accounts Payable                          148,189       151,247       137,635
  Current Portion LT Debt                         0        10,000        10,000
  Other Current Liabilities                       0             0             0
  Total Current Liabilities                 148,189       161,247        147,635

  Long Term Debt                            148,189       151,247       137,635
  Other Liabilities                               0        10,000        10,000
  Deferred LT Liab. Charges                       0             0             0
  Minority Interest                               0             0             0
  Negative Goodwill                               0             0             0

Total Liabilities                           204,215       169,366       213,304

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                               22,693        22,521        23,130
  Retained Earnings                       1,041,714       895,653       724,696
  Treasury Stock                                  0             0             0
  Capital Surplus                           125,855       111,687       150,122
  Other Stockhohlder Equity                       0             0             0
  Total Stockholder Equity                1,190,262     1,029,861       897,948

Net Tangible Assets                       1,190,262     1,029,861       897,948


Sanderson Farms, Inc. (SAFM)                [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            2.3333          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  0.0000          Forward P/E Ratio < 28?    2.2222
Price/Sales Ratio < 2.3?   2.1698          Inventory/Sales < 5%?      0.6391
Sales < $1 Billion?        0.3551          Operating Margin < 7.5%?   0.5580

Balance Sheet Tests:
Debt/Equity < 0.40?        1.0000          Long-Term Debt Service:    3.0000
LTD Being Reduced?         0.0000          Short-Term Debt Service:   3.0000
Current Ratio > 2?         2.0694          Working Capital >= 1.5?    0.3673
Leverage Ratio < 20%?      3.0000          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    1.3779
Share Equity Increase:     2.3027          Market Cap.< 1.5 Billion?  0.4410
                                           Intangibles < 3% Assets?   3.0000
Income Tests:
Profit Margin < 7.5%?      1.1733          EPS Annual Growth > 10%?   0.1143
Dividend Yield > 2.0%?     2.5641          EPS 3-yr Growth > 15?      0.1977
Enterprise Value/Revenue   1.2076          EPS Growth Consistent?    -2.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      2.7920
EPS Qrtly Growth > 10%?    0.0000          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  0.2986
Stock Performance Tests:
Volatility > 25%?          2.2221          % Held by Insiders < 5%?   0.4122
Beta > 1.25?               0.2480          % Held by Institut. < 50?  0.4818
50 Da MA > 200 Da MA?      0.4935          % Held by Institut. > 30?  3.0000
52-Wk Change vs. S&P 500:  3.0000          Short Ratio > 5?           2.6920
Price/Book Value < 3?      1.1488          Short % of Float > 20?     1.3105
Return on Assets > 17%?    1.0247          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  2.1133          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  2.2568
                                           Cash Flow / Assets > 10%?  3.0000

SAFM   Sanderson Farms, Inc.               Overall Zenith Index:      1.6243


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Financial Statements

SANDERSON FARMS INC  (SAFM)                 INCOME STATEMENT

Fiscal year ends in October.                         2012-10         2013-10         2014-10         2015-10         2016-10             TTM           

Revenue                                        2,386,105,088   2,682,980,096   2,774,844,928   2,803,480,064   2,816,057,088   3,213,095,936
Cost of revenue                                2,212,691,968   2,377,054,976   2,253,897,984   2,312,368,128   2,362,055,936   2,584,414,976
Gross profit                                     173,412,992     305,924,992     520,947,008     491,112,000     454,000,992     628,681,024


Operating expenses
Sales, General and administrative                 77,097,000      97,019,000     138,168,992     154,187,008     159,890,000     196,739,008
Other operating expenses                                   0       3,228,000         856,000         927,000               0               0
Total operating expenses                          77,097,000     100,247,000     139,024,992     155,114,000     159,890,000     196,739,008

Operating income                                  96,316,000     205,678,000     381,921,984     335,998,016     294,111,008     431,942,016
Interest Expense                                   9,201,000       6,136,000       2,577,000       2,136,000       1,708,000       1,804,000
Other income (expense)                              -543,000         571,000         121,000         229,000         274,000       1,009,000
Income before taxes                               86,572,000     200,112,992     379,465,984     334,091,008     292,676,992     431,147,008
Provision for income taxes                        32,628,000      69,496,000     130,418,000     118,090,000     103,716,000     148,311,008
Net income from continuing operations             53,944,000     130,617,000     249,048,000     216,000,992     188,960,992     282,836,000
Net income                                        53,944,000     130,617,000     249,048,000     216,000,992     188,960,992     282,836,000
Preferred dividend                                         0               0       6,781,000       4,172,000               0       1,421,000
Net income available to common shareholders       53,944,000     130,617,000     242,267,008     211,828,992     188,960,992     281,415,008

Earnings per share
Basic                                                   2.35            5.68           10.80            9.52            8.37           12.46 
Diluted                                                 2.35            5.68           10.80            9.52            8.37           12.46 

Weighted average shares outstanding
Basic                                             22,280,000      22,363,000      22,441,000      22,243,000      22,225,000      22,352,500
Diluted                                           22,282,000      22,363,000      22,441,000      22,243,000      22,225,000      22,352,500

____________________________________________________________________________________________________________________________________________


SANDERSON FARMS INC  (SAFM)                 BALANCE SHEET

Fiscal year ends in October.                         2012-10         2013-10         2014-10         2015-10         2016-10             

Assets

Current assets

Cash

Total cash                                        27,802,000      85,563,000     165,610,000     196,659,008     234,111,008

Receivables                                       98,022,000     108,980,000     118,296,000     112,924,000     124,348,000
Inventories                                      235,912,000     205,855,008     190,823,008     198,752,992     220,306,000
Deferred income taxes                              3,945,000         478,000       2,925,000       4,709,000               0
Prepaid expenses                                  27,639,000      29,867,000      33,052,000      33,331,000      34,559,000
Other current assets                               4,467,000               0               0      16,414,000               0
Total current assets                             397,787,008     430,743,008     510,705,984     562,790,016     613,324,032

Non-current assets

Property, plant and equipment
Gross property, plant and equipment              985,198,016   1,035,043,968   1,185,094,016   1,318,530,048   1,505,596,032
Accumulated Depreciation                        -489,884,992    -546,577,984    -588,969,024    -636,195,968    -701,604,992
Net property, plant and equipment                495,312,992     488,465,984     596,124,992     682,334,016     803,990,976

Other long-term assets                             3,353,000       5,436,000       4,421,000       6,337,000       5,385,000
Total non-current assets                         498,665,984     493,902,016     600,545,984     688,670,976     809,376,000

Total assets                                     896,452,992     924,644,992   1,111,251,968   1,251,460,992   1,422,700,032 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                   10,757,000      10,799,000      10,000,000      10,000,000               0
Accounts payable                                  82,755,000      81,418,000      48,700,000      62,816,000      72,774,000
Taxes payable                                      4,796,000      15,539,000      26,980,000       6,965,000      26,207,000
Accrued liabilities                               36,186,000      53,387,000      61,655,000      79,866,000      49,208,000
Deferred revenues                                  1,100,000         400,000         300,000       1,600,000               0
Total current liabilities                        135,594,000     161,543,008     147,635,008     161,247,008     148,188,992

Non-current liabilities
Long-term debt                                   150,212,000      29,414,000      10,000,000               0               0
Deferred taxes liabilities                        56,572,000      53,089,000      45,669,000      52,853,000               0
Other long-term liabilities                        4,000,000       9,000,000      10,000,000       7,500,000      84,249,000
Total non-current liabilities                    210,784,000      91,503,000      65,669,000      60,353,000      84,249,000

Total liabilities                                346,377,984     253,046,000     213,304,000     221,600,000     232,438,000 

Stockholders' equity

Common stock                                      22,969,000      23,016,000      23,130,000      22,521,000      22,693,000
Additional paid-in capital                       135,283,008     142,482,000     150,122,000     111,687,000     125,855,000
Retained earnings                                391,823,008     506,100,992     724,696,000     895,652,992   1,041,713,984
Total stockholders' equity                       550,075,008     671,598,976     897,948,032   1,029,860,992   1,190,262,016
Total liabilities and stockholders' equity       896,452,992     924,644,992   1,111,251,968   1,251,460,992   1,422,700,032

____________________________________________________________________________________________________________________________________________


SANDERSON FARMS INC  (SAFM)                 Statement of CASH FLOW

Fiscal year ends in October. USD.                    2012-10         2013-10         2014-10         2015-10         2016-10             TTM           

Cash Flows From Operating Activities
Net income                                        53,944,000     130,617,000     249,048,000     216,000,992     188,960,992     282,836,000
Depreciation & amortization                       59,979,000      62,225,000      64,309,000      74,661,000      84,583,000      95,304,000
Amortization of debt discount/premium and is       4,781,000       8,111,000               0               0               0               0
Deferred income taxes                              7,995,000         -16,000      -9,867,000       4,781,000      28,223,000      20,102,000
Stock based compensation                                   0               0      12,396,000      16,068,000      15,813,000      16,753,000
Accounts receivable                               -4,413,000     -11,373,000      -9,316,000       5,071,000     -11,574,000     -32,607,000
Inventory                                        -15,159,000      30,057,000      15,032,000      -7,930,000     -21,553,000     -28,458,000
Prepaid expenses                                    -271,000      -2,546,000      -3,026,000      -1,162,000      -1,263,000      -4,391,000
Accounts payable                                  15,994,000      -1,337,000     -32,718,000      11,615,000       5,109,000       2,071,000
Accrued liabilities                                        0               0      10,175,000      16,304,000               0               0
Other working capital                             91,032,000      36,711,000      10,434,000     -37,903,000       4,400,000      58,540,000
Other non-cash items                              -8,588,000         415,000               0         300,000         150,000      -2,173,000
Net cash provided by operating activities        205,294,000     252,864,000     306,467,008     297,806,016     292,848,992     407,976,992

Cash Flows From Investing Activities
Investments in property, plant, and equipmen     -49,249,000     -54,529,000    -171,626,000    -158,288,992    -200,882,000    -205,432,000
Property, plant, and equipment reductions             39,000               0         514,000         848,000               0               0
Other investing activities                                 0         169,000               0               0         478,000         436,000
Net cash used for investing activities           -49,210,000     -54,360,000    -171,112,000    -157,440,992    -200,404,000    -204,996,000

Cash Flows From Financing Activities
Debt issued                                       45,000,000      15,000,000               0               0               0               0
Debt repayment                                  -168,807,008    -135,756,000     -20,213,000     -10,000,000     -10,000,000               0
Common stock issued                                 -635,000         827,000         901,000       1,209,000       1,279,000         991,000
Common stock repurchased                                   0      -1,837,000      -6,559,000     -70,103,000      -7,282,000      -6,293,000
Dividend paid                                    -15,621,000     -16,339,000     -30,453,000     -31,092,000     -42,900,000     -43,883,000
Other financing activities                           706,000      -2,638,000       1,016,000         670,000       3,910,000       1,494,000
Net cash provided by (used for) financing       -139,356,992    -140,743,008     -55,308,000    -109,316,000     -54,993,000     -47,691,000

Net change in cash                                16,727,000      57,761,000      80,047,000      31,049,000      37,452,000     155,290,000
Cash at beginning of period                       11,075,000      27,802,000      85,563,000     165,610,000     196,659,008     242,980,000
Cash at end of period                             27,802,000      85,563,000     165,610,000     196,659,008     234,111,008     398,270,016

Free Cash Flow
Operating cash flow                              205,294,000     252,864,000     306,467,008     297,806,016     292,848,992     407,976,992
Capital expenditure                              -49,249,000     -54,529,000    -171,626,000    -158,288,992    -200,882,000    -205,432,000
Free cash flow                                   156,044,992     198,335,008     134,840,992     139,516,992      91,967,000     202,544,992
____________________________________________________________________________________________________________________________________________





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Average to Current P/E Ratios
Sanderson Farms Inc.    (SAFM)

                               2012    2013    2014    2015    2016

          Annual Earnings:     2.35    5.68   10.80    9.52    8.37
Average Price During Year:    47.86   61.38   84.33   75.57   87.76

                P/E Ratio:    20.37   10.81    7.81    7.94   10.49

 Average 5-Year P/E Ratio  =  11.48
             Current Price =  149.54

Previous 5 Quarter Earnings:   2.42    3.30    1.02    2.94    5.09

           Current Annualized (Last Four Quarters) Earnings =  9.05
                                                           ________
                                 Average PE / Current PE =     0.69
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Intrinsic Value by Discounted Cash Flow Method:

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Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2



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Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Moving Average Chart



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Right Time Study



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for SANDERSON FARMS INC.:
Symbol? SAFM
Total Months Available:  46
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  98.66   74.07    125.87   87.54    166.65  109.74

RANGE   = 166.65  TO   74.07            Close = 160.00
CHANNEL = 109.74  TO   98.66           Degree =   1
Volatility =   6.92%                    Index =   0
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

8 out of 8 favorable, (positive opinion.)

Val Idea
Val Idea


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Stock Consultant

Stock Consultant Stock Consultant



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Point & Figure Chart

P & F Chart


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Wall Street Analyzer



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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

2 out of 3 of the ultimate systems favor an upmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry + 1
Bond Issue 0
Zenith Index + 1
Non-GAAP vs. GAAP Earnings + 1
Cash Flow + 1
Average to Current P/E - 1
Ratios + 1
Market Grader + 1
Intrinsic Value DCF + 1
Tangible Book Value + 1
Projected Earnings - 1
Research Reports + 1
Analysts - 1
Executive Perquisites + 1
Insider Activity - 1
Institutional Activity + 1
Management Reporting + 1
Short Interest - 1
Sentiment + 1
Standard & Poor's - 1
Moving Average - 1
Right Time Study - 1
MACD Histogram Divergence - 1
Val Idea + 1
Stock Consultant + 1
Point & Figure - 1
Wall Street Analyzer - 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network - 1
Stock Options + 1
Ultimate Trading Systems + 1
Total + 5
Place 201 shares of Sanderson Farms, Inc. (SAFM) on the Active List.