Cleveland Research upgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, May 22nd, The Fly reports.
PPC has been the subject of several other reports. Barclays restated a buy rating on shares of Pilgrim’s Pride in a research report on Sunday, May 5th. Jefferies Financial Group reissued a hold rating and issued a $19.00 price objective on shares of Pilgrim’s Pride in a research note on Sunday, February 17th. Stephens assumed coverage on shares of Pilgrim’s Pride in a report on Monday, March 4th. They issued an overweight rating and a $19.75 target price on the stock. Zacks Investment Research upgraded shares of Pilgrim’s Pride from a sell rating to a hold rating in a report on Tuesday, April 16th. Finally, BidaskClub upgraded shares of Pilgrim’s Pride from a buy rating to a strong-buy rating in a report on Saturday, March 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Pilgrim’s Pride presently has an average rating of Buy and a consensus price target of $24.75.
PPC stock traded down $0.34 during trading hours on Wednesday, reaching $26.30. 655,445 shares of the stock were exchanged, compared to its average volume of 1,063,146. The stock has a market cap of $6.64 billion, a PE ratio of 20.55 and a beta of 0.87. The company has a current ratio of 1.68, a quick ratio of 0.83 and a debt-to-equity ratio of 1.19. Pilgrim’s Pride has a 12 month low of $14.83 and a 12 month high of $29.32.
Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Pilgrim’s Pride had a net margin of 1.95% and a return on equity of 14.13%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts forecast that Pilgrim’s Pride will post 1.83 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Zebra Capital Management LLC grew its position in Pilgrim’s Pride by 3.1% in the 1st quarter. Zebra Capital Management LLC now owns 26,306 shares of the company’s stock worth $586,000 after purchasing an additional 792 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Pilgrim’s Pride by 50.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,315 shares of the company’s stock valued at $172,000 after acquiring an additional 2,459 shares during the period. Morgan Stanley grew its position in shares of Pilgrim’s Pride by 59.3% during the 1st quarter. Morgan Stanley now owns 321,090 shares of the company’s stock valued at $7,156,000 after acquiring an additional 119,553 shares during the period. Coastal Investment Advisors Inc. bought a new position in shares of Pilgrim’s Pride during the 1st quarter valued at approximately $45,000. Finally, SEI Investments Co boosted its holdings in Pilgrim’s Pride by 105.9% in the 1st quarter. SEI Investments Co now owns 77,991 shares of the company’s stock worth $1,726,000 after buying an additional 40,106 shares during the period. 18.88% of the stock is owned by institutional investors and hedge funds.
Pilgrim’s Pride Company Profile
Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.
Receive News & Ratings for Pilgrim's Pride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pilgrim's Pride and related companies with MarketBeat.com's FREE daily email newsletter.