Pilgrim’s Pride (NASDAQ:PPC) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Monday, MarketBeat reports. They currently have a $21.00 price target on the stock, down from their prior price target of $36.00. BMO Capital Markets’ target price indicates a potential upside of 24.33% from the company’s current price.
Several other equities research analysts also recently commented on the stock. Barclays reduced their price target on shares of Pilgrim’s Pride from $33.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Stephens downgraded shares of Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 3rd. Goldman Sachs Group reduced their price target on shares of Pilgrim’s Pride from $23.00 to $19.00 in a research report on Thursday, June 4th. Finally, BidaskClub downgraded shares of Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $27.63.
PPC stock opened at $16.89 on Monday. Pilgrim’s Pride has a 12 month low of $15.75 and a 12 month high of $33.67. The firm has a market cap of $4.08 billion, a PE ratio of 9.60, a P/E/G ratio of 1.37 and a beta of 1.01. The firm has a 50 day simple moving average of $19.40 and a 200 day simple moving average of $23.22. 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 issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.98 billion. Pilgrim’s Pride had a net margin of 3.73% and a return on equity of 15.14%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, sell-side analysts expect that Pilgrim’s Pride will post 1.82 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in PPC. CWM Advisors LLC acquired a new position in shares of Pilgrim’s Pride during the 1st quarter worth $29,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Pilgrim’s Pride by 140.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,207 shares of the company’s stock worth $40,000 after purchasing an additional 1,290 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Pilgrim’s Pride during the 4th quarter worth $95,000. Acadian Asset Management LLC increased its stake in shares of Pilgrim’s Pride by 23.5% during the 4th quarter. Acadian Asset Management LLC now owns 3,122 shares of the company’s stock worth $102,000 after purchasing an additional 594 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Pilgrim’s Pride by 120.0% during the 1st 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 during 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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