Pilgrim’s Pride (NASDAQ:PPC) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Monday, Marketbeat.com reports. They presently have a $20.00 target price on the stock. Barclays‘s price target would suggest a potential upside of 18.41% from the stock’s previous close.
Several other research firms have also commented on PPC. Goldman Sachs Group cut their price target on Pilgrim’s Pride from $23.00 to $19.00 in a research report on Thursday, June 4th. BMO Capital Markets lowered Pilgrim’s Pride from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $36.00 to $21.00 in a research report on Monday. BidaskClub lowered Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 6th. Finally, Stephens lowered Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $27.63.
Shares of Pilgrim’s Pride stock opened at $16.89 on Monday. The business has a 50-day moving average of $19.40 and a 200 day moving average of $23.22. Pilgrim’s Pride has a 12 month low of $15.75 and a 12 month high of $33.67. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.89 and a quick ratio of 0.99.
Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Pilgrim’s Pride had a return on equity of 15.14% and a net margin of 3.73%. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the company earned $0.35 EPS. Pilgrim’s Pride’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Pilgrim’s Pride will post 1.82 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. CWM Advisors LLC purchased a new stake in shares of Pilgrim’s Pride in the first quarter valued at approximately $29,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Pilgrim’s Pride by 140.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,207 shares of the company’s stock valued at $40,000 after buying an additional 1,290 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $95,000. Acadian Asset Management LLC boosted its position in Pilgrim’s Pride by 23.5% during the fourth quarter. Acadian Asset Management LLC now owns 3,122 shares of the company’s stock worth $102,000 after purchasing an additional 594 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Pilgrim’s Pride by 120.0% during the first quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the company’s stock worth $60,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 19.09% of the company’s stock.
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.
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