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NEW YORK (TheStreet) -- Cal-Maine Foods (CALM) stock is up by 9.16% to $54.71 on heavy trading volume on Monday, after the company reported better-than-expected 2016 third quarter earnings. 

Before the market open today, the shell eggs producer reported earnings of $1.33 per share, higher than Wall Street's forecasts for 99 cents per share.

However, revenue of $449.8 million was lower than analysts' estimates for $463.6 million.

The company's results were boosted by a higher average selling price for shell eggs, Cal-Maine said. 

"While average selling prices for shell eggs for the third quarter of fiscal 2016 have dropped considerably from the historically high record levels we experienced earlier in the fiscal year, they were still up 4.3 percent over the third quarter of fiscal 2015," CEO Dolph Baker said in a statement. 

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So far today, 1.41 million shares of Cal-Maine Foods have traded, versus the company's 30-day average of about 791,000 shares. 

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A-.

Cal-Maine Foods' strengths include its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and expanding profit margins.

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

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

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