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Sanderson Farms Jumps 9%; Explores Potential Sale Options

Shares of American poultry producer Sanderson Farms Inc. (SAFM) are 9 percent higher on Tuesday's trading amid reports that the company is on the look out for potential buyers.

According to reports, the company has hired Centerview Partners to seek expert advice on a potential sale after attracting the interest of buyers like agricultural investment firm Continental Grain.

In its last quarter, the company reported net income of $96.91 million or $4.34 per share, sharply higher than $6.12 million or $0.28 per share in the year-ago quarter. Net sales for the quarter rose to $1.13 billion from $844.71 million for the same quarter last year.

Currently trading at $182.60, the stock has traded between $108.57 and $186.72 during the past 52 weeks.

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