BidaskClub Downgrades Pilgrim's Pride (PPC) to Strong Sell

BidaskClub cut shares of Pilgrim's Pride (NASDAQ:PPC) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday.

Several other brokerages have also recently commented on PPC. Jefferies Group set a $32.00 target price on Pilgrim's Pride and gave the stock a hold rating in a report on Thursday, November 16th. Morgan Stanley upped their price target on Pilgrim's Pride from $30.00 to $32.00 and gave the company an equal weight rating in a report on Friday, November 10th. BMO Capital Markets upped their price target on Pilgrim's Pride from $24.00 to $38.00 and gave the company a market perform rating in a report on Thursday, November 9th. ValuEngine cut Pilgrim's Pride from a strong-buy rating to a buy rating in a report on Friday, December 15th. Finally, KeyCorp initiated coverage on Pilgrim's Pride in a report on Tuesday, October 31st. They issued a hold rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $32.50.

Shares of Pilgrim's Pride (NASDAQ PPC) traded up $1.23 during trading hours on Tuesday, reaching $30.72. The company had a trading volume of 1,069,573 shares, compared to its average volume of 1,045,094. Pilgrim's Pride has a 1 year low of $18.10 and a 1 year high of $38.39. The company has a market capitalization of $7,335.71, a PE ratio of 12.14 and a beta of 0.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.65.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its stake in Pilgrim's Pride by 15.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 381,877 shares of the company’s stock valued at $8,371,000 after purchasing an additional 52,011 shares during the period. Bank of New York Mellon Corp raised its stake in Pilgrim's Pride by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 599,486 shares of the company’s stock valued at $13,141,000 after purchasing an additional 30,029 shares during the period. Legal & General Group Plc raised its stake in Pilgrim's Pride by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock valued at $412,000 after purchasing an additional 347 shares during the period. Alliancebernstein L.P. raised its stake in Pilgrim's Pride by 42.8% during the 2nd quarter. Alliancebernstein L.P. now owns 25,679 shares of the company’s stock valued at $563,000 after purchasing an additional 7,700 shares during the period. Finally, Martingale Asset Management L P raised its stake in Pilgrim's Pride by 10.9% during the 2nd quarter. Martingale Asset Management L P now owns 29,411 shares of the company’s stock valued at $645,000 after purchasing an additional 2,900 shares during the period. 24.60% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This story was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://stocknewstimes.com/2018/01/20/bidaskclub-downgrades-pilgrims-pride-ppc-to-strong-sell.html.

Pilgrim's Pride Company Profile

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 (NASDAQ:PPC)

Receive News & Ratings for Pilgrim's Pride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pilgrim's Pride and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply