Pilgrim’s Pride Co. (NASDAQ:PPC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have received a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $45.50.

Several equities research analysts recently weighed in on PPC shares. Stephens began coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price objective on the stock. BMO Capital Markets raised their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Thursday, August 15th. Argus raised their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Barclays upped their price target on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st.

Pilgrim’s Pride Trading Up 2.8 %

NASDAQ:PPC opened at $53.82 on Friday. Pilgrim’s Pride has a 52 week low of $25.23 and a 52 week high of $55.50. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The company has a market cap of $12.76 billion, a PE ratio of 13.00, a P/E/G ratio of 0.22 and a beta of 0.81. The business’s 50 day moving average is $45.68 and its two-hundred day moving average is $41.29.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 earnings per share. On average, analysts predict that Pilgrim’s Pride will post 4.91 EPS for the current year.

Hedge Funds Weigh In On Pilgrim’s Pride

Several large investors have recently bought and sold shares of PPC. Harbor Capital Advisors Inc. acquired a new position in shares of Pilgrim’s Pride during the third quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at $29,000. Raleigh Capital Management Inc. bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter worth $34,000. ORG Partners LLC acquired a new stake in shares of Pilgrim’s Pride in the second quarter valued at $32,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Pilgrim’s Pride during the second quarter valued at about $32,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.