Pilgrim’s Pride Corporation (PPC) Given Average Recommendation of “Buy” by Brokerages

Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) have been assigned a consensus rating of “Buy” from the nine brokerages that are covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $32.50.

A number of equities research analysts recently issued reports on the stock. BidaskClub downgraded shares of Pilgrim’s Pride Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 7th. KeyCorp assumed coverage on shares of Pilgrim’s Pride Corporation in a report on Tuesday, October 31st. They issued a “hold” rating for the company. Jefferies Group LLC restated a “hold” rating and issued a $27.00 target price (up from $25.00) on shares of Pilgrim’s Pride Corporation in a report on Friday, October 6th. ValuEngine upgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BMO Capital Markets restated a “hold” rating and issued a $24.00 target price on shares of Pilgrim’s Pride Corporation in a report on Friday, August 25th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its stake in Pilgrim’s Pride Corporation by 1.9% during the second quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock worth $412,000 after buying an additional 347 shares during the period. First Midwest Bank Trust Division grew its stake in Pilgrim’s Pride Corporation by 2.4% during the second quarter. First Midwest Bank Trust Division now owns 30,961 shares of the company’s stock worth $679,000 after buying an additional 738 shares during the period. The Manufacturers Life Insurance Company grew its stake in Pilgrim’s Pride Corporation by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock worth $201,000 after buying an additional 798 shares during the period. Voya Investment Management LLC grew its stake in Pilgrim’s Pride Corporation by 4.3% during the second quarter. Voya Investment Management LLC now owns 19,808 shares of the company’s stock worth $434,000 after buying an additional 813 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in Pilgrim’s Pride Corporation by 3.8% during the first quarter. Public Employees Retirement System of Ohio now owns 24,643 shares of the company’s stock worth $555,000 after buying an additional 897 shares during the period. Institutional investors own 24.88% of the company’s stock.

Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) opened at $35.46 on Tuesday. The company has a market cap of $8,820.00, a PE ratio of 13.57 and a beta of 0.21. Pilgrim’s Pride Corporation has a twelve month low of $17.15 and a twelve month high of $35.62. The company has a current ratio of 1.65, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.21. Pilgrim’s Pride Corporation had a net margin of 7.03% and a return on equity of 53.62%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. research analysts predict that Pilgrim’s Pride Corporation will post 2.85 EPS for the current year.

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About Pilgrim’s Pride Corporation

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

Analyst Recommendations for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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