Pilgrim's Pride (NASDAQ:PPC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, January 5th.
Several other research firms also recently weighed in on PPC. Jefferies Group set a $32.00 price target on shares of Pilgrim's Pride and gave the stock a “hold” rating in a research report on Thursday, November 16th. Morgan Stanley increased their price target on shares of Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. BMO Capital Markets increased their price target on shares of Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, November 9th. ValuEngine downgraded shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Finally, KeyCorp began coverage on shares of Pilgrim's Pride in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.50.
Pilgrim's Pride (NASDAQ:PPC) traded up $0.18 during trading hours on Friday, hitting $29.69. 1,033,100 shares of the stock were exchanged, compared to its average volume of 1,562,111. The stock has a market capitalization of $7,450.00, a PE ratio of 11.74 and a beta of 0.29. Pilgrim's Pride has a 1 year low of $18.10 and a 1 year high of $38.39. The company has a current ratio of 1.65, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49.
Pilgrim's Pride (NASDAQ:PPC) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.21. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pilgrim's Pride had a net margin of 7.03% and a return on equity of 53.62%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. sell-side analysts forecast that Pilgrim's Pride will post 2.85 EPS for the current year.
Several large investors have recently modified their holdings of PPC. Seven Eight Capital LP purchased a new position in shares of Pilgrim's Pride during the 2nd quarter worth about $134,000. New York State Teachers Retirement System bought a new stake in Pilgrim's Pride during the 3rd quarter valued at about $134,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Pilgrim's Pride by 57.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock valued at $167,000 after buying an additional 2,139 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Pilgrim's Pride by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after buying an additional 798 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in Pilgrim's Pride during the 2nd quarter valued at about $219,000. 24.60% of the stock is owned by institutional investors and hedge funds.
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About Pilgrim's Pride
Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
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