Pilgrim’s Pride Co. (NASDAQ:PPC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $38.00.

A number of research analysts have issued reports on PPC shares. The Goldman Sachs Group upped their target price on shares of Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Barclays reaffirmed an “equal weight” rating and issued a $38.00 price target (up from $35.00) on shares of Pilgrim’s Pride in a research note on Tuesday, April 16th. StockNews.com raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd. Bank of America upped their price target on Pilgrim’s Pride from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Argus assumed coverage on Pilgrim’s Pride in a research note on Tuesday, June 18th. They issued a “buy” rating and a $41.00 price target for the company.

Institutional Investors Weigh In On Pilgrim’s Pride

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp bought a new position in Pilgrim’s Pride during the 4th quarter worth $28,000. GAMMA Investing LLC bought a new position in shares of Pilgrim’s Pride in the fourth quarter worth $30,000. Headlands Technologies LLC bought a new position in shares of Pilgrim’s Pride in the first quarter worth $38,000. Financial Management Professionals Inc. bought a new position in shares of Pilgrim’s Pride in the fourth quarter worth $32,000. Finally, Virtus Investment Advisers Inc. bought a new position in shares of Pilgrim’s Pride in the first quarter worth $103,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 0.5 %

Shares of NASDAQ:PPC opened at $38.49 on Monday. Pilgrim’s Pride has a 52 week low of $20.89 and a 52 week high of $39.00. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.01 and a current ratio of 1.83. The company’s fifty day moving average is $36.28 and its 200-day moving average is $32.48. The company has a market capitalization of $9.12 billion, a PE ratio of 18.68, a P/E/G ratio of 0.28 and a beta of 0.76.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.17. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.45 billion. Pilgrim’s Pride had a net margin of 2.80% and a return on equity of 17.35%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. Equities research analysts predict that Pilgrim’s Pride will post 3.77 earnings per share for the current fiscal year.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.