Filed under: Earnings reports, Technical Analysis, Stocks to Buy

AgFeed Industries (NASDAQ: FEED) is the top premix feed company in China, operating through subsidiaries that develop and manufacture blended feed and feed additives for the Chinese domestic pork husbandry market. One division also makes premixed chicken feed. Products are sold through over 500 independently owned sales agents, concentrated in key agricultural regions across the country. AgFeed also operates its own hog farms. It is currently ranked as the second largest commercial hog producer in the country.

The firm pleased investors last week, when it reported Y07 EPS of 25 cents and revenues of $36.16 million. The Street had been expecting 25 cents and $36.0 million. Management also guided FY08 EPS to $0.96-$1.10 ($0.96 Street) and FY08 revenues to $135.0 million ($134.88M Street). The company anticipates doubling the number of stores in its AgFeed product chain by the end of the year.

Continue reading AgFeed Industries (FEED): Shares cycling in bullish ‘pennant’

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