Pilgrim’s Pride (NASDAQ:PPC) Reaches New 52-Week Low at $14.79

Pilgrim’s Pride Co. (NASDAQ:PPC)’s share price hit a new 52-week low on Wednesday . The company traded as low as $14.79 and last traded at $14.80, with a volume of 12793 shares. The stock had previously closed at $15.08.

A number of brokerages have weighed in on PPC. Stephens lowered Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 3rd. BidaskClub raised shares of Pilgrim’s Pride from a “strong sell” rating to a “sell” rating in a research report on Friday, September 11th. ValuEngine cut shares of Pilgrim’s Pride from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Barclays cut shares of Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective for the company. in a research report on Monday, June 29th. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $24.14.

The firm’s 50 day simple moving average is $16.12 and its 200 day simple moving average is $17.99. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 3.61 and a beta of 0.93. The company has a quick ratio of 0.98, a current ratio of 1.89 and a debt-to-equity ratio of 1.10.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.13). Pilgrim’s Pride had a net margin of 2.24% and a return on equity of 7.89%. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the business posted $0.69 EPS. Pilgrim’s Pride’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that Pilgrim’s Pride Co. will post 0.68 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of PPC. Private Advisor Group LLC bought a new position in Pilgrim’s Pride during the second quarter worth about $26,000. Captrust Financial Advisors acquired a new stake in shares of Pilgrim’s Pride in the 2nd quarter valued at approximately $28,000. CWM Advisors LLC acquired a new stake in shares of Pilgrim’s Pride in the 1st quarter valued at approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Pilgrim’s Pride by 27.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,081 shares of the company’s stock valued at $92,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Pilgrim’s Pride by 32.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,914 shares of the company’s stock worth $184,000 after buying an additional 2,697 shares during the period. Institutional investors and hedge funds own 17.32% of the company’s stock.

Pilgrim’s Pride Company Profile (NASDAQ:PPC)

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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