Pilgrim’s Pride’s (PPC) “Add” Rating Reaffirmed at Peel Hunt

Pilgrim’s Pride (NASDAQ:PPC)‘s stock had its “add” rating reiterated by research analysts at Peel Hunt in a research note issued on Monday, Stock Target Advisor reports.

PPC has been the subject of a number of other research reports. Stephens raised their price objective on Pilgrim’s Pride from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Mizuho raised their price objective on Pilgrim’s Pride from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BMO Capital Markets upgraded Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $31.00 to $36.00 in a research note on Tuesday, August 20th. ValuEngine lowered Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research lowered Pilgrim’s Pride from a “strong-buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $32.20.

Shares of NASDAQ PPC opened at $27.88 on Monday. Pilgrim’s Pride has a fifty-two week low of $14.83 and a fifty-two week high of $32.71. The business has a 50 day moving average price of $30.64 and a two-hundred day moving average price of $27.90. The company has a quick ratio of 0.93, a current ratio of 1.78 and a debt-to-equity ratio of 1.11. The firm has a market cap of $7.09 billion, a PE ratio of 21.78 and a beta of 0.75.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. Pilgrim’s Pride had a return on equity of 15.58% and a net margin of 2.53%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the firm earned $0.53 EPS. Pilgrim’s Pride’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts anticipate that Pilgrim’s Pride will post 1.97 earnings per share for the current year.

In other Pilgrim’s Pride news, CEO Jayson Penn sold 51,222 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $28.29, for a total transaction of $1,449,070.38. Following the transaction, the chief executive officer now owns 204,408 shares of the company’s stock, valued at approximately $5,782,702.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Fabio Sandri sold 74,710 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $28.27, for a total value of $2,112,051.70. Following the transaction, the chief financial officer now directly owns 326,363 shares in the company, valued at approximately $9,226,282.01. The disclosure for this sale can be found here. Company insiders own 78.73% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Destination Wealth Management bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $53,000. Point72 Hong Kong Ltd bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $82,000. New York State Teachers Retirement System bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $119,000. Meeder Asset Management Inc. bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $138,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $169,000. 19.76% of the stock is currently owned by institutional investors.

About Pilgrim’s Pride

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

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