BMO Capital Markets Boosts Pilgrim’s Pride (NASDAQ:PPC) Price Target to $43.00

Pilgrim’s Pride (NASDAQ:PPC) had its price objective lifted by BMO Capital Markets from $42.00 to $43.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts also recently commented on the stock. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a report on Thursday, August 15th. Barclays increased their target price on shares of Pilgrim’s Pride from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Stephens began coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price for the company. Finally, Argus lifted their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ PPC opened at $51.25 on Friday. The company has a market cap of $12.15 billion, a PE ratio of 12.26, a P/E/G ratio of 0.22 and a beta of 0.81. The company has a current ratio of 1.95, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride has a 12-month low of $25.23 and a 12-month high of $51.30. The stock has a 50 day simple moving average of $44.98 and a 200-day simple moving average of $40.73.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. During the same period in the prior year, the company earned $0.58 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that Pilgrim’s Pride will post 5.21 EPS for the current year.

Institutional Trading of Pilgrim’s Pride

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Pilgrim’s Pride during the 2nd quarter worth about $1,583,000. Quadrature Capital Ltd purchased a new stake in shares of Pilgrim’s Pride in the first quarter valued at approximately $904,000. ORG Wealth Partners LLC purchased a new stake in Pilgrim’s Pride during the third quarter worth $29,000. Edgestream Partners L.P. purchased a new position in Pilgrim’s Pride during the first quarter worth about $787,000. Finally, Inspire Investing LLC acquired a new stake in Pilgrim’s Pride during the first quarter worth about $934,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim’s Pride Company Profile

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.