NEW YORK (TheStreet) -- Shares of Tyson Foods (TSN) closed up 5.83% $43.03 on more than double its average trading volume Monday, after the food production company reported record sales in its fourth quarter earnings.
The largest U.S. chicken processor said sales were up 14% from a year ago to $10.11 billion for the period, close to the $10.16 billion analysts expected.
The company also said adjusted net income grew by 24% to 87 cents per share share up from last year, surpassing the 76 cents per share analysts expected.
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Tyson Foods acquired Hillshire Brands back in August, which helped boost its sales of prepared foods. The company also benefited from increased demand and higher prices in its pork and beef segments.
Tyson issued an in-line earnings forecast for fiscal 2015, with a range of $3.30 to $3.40 a share, on sales of $42 billion dollars for the full year.
Separately, TheStreet Ratings team rates TYSON FOODS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate TYSON FOODS INC (TSN) 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, solid stock price performance, growth in earnings per share, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."