NEW YORK (TheStreet) --Shares of Cal-Maine Foods (CALM) - Get Report closed lower by 12.16% to $50.63 on heavy trading volume on Monday afternoon, after the producer and marketer of shell eggs reported its fiscal 2016 first quarter earnings results earlier today.

For the most recent quarter, the Jackson, MS-based company said it earned $2.95 per diluted share on net sales of $609.9 million for the most recent quarter.

Analysts surveyed by Thomson Reuters had forecast for earnings of $3.14 per share on revenue of $599.94 million for the fiscal first quarter.

"Our financial and operating results for the first quarter marked a very strong start to fiscal 2016 with record quarterly sales and net income. Overall sales were up 70.9% over the prior year period, as average selling prices for shell eggs spiked to record levels during the first quarter and were up 65.7% compared with the same period last year," company CEO Dolph Baker said in a statement.

Separately, TheStreet Ratings team rates CAL-MAINE FOODS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

We rate CAL-MAINE FOODS INC (CALM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company shows low profit margins.

You can view the full analysis from the report here: CALM

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