Brokerages Set Pilgrim’s Pride Co. (NASDAQ:PPC) PT at $45.50

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $45.50.

A number of equities analysts recently issued reports on PPC shares. BMO Capital Markets raised their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a report on Thursday, August 15th. Barclays raised their price objective on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Argus raised their price objective on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Stephens began coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target on the stock.

Institutional Investors Weigh In On Pilgrim’s Pride

Several hedge funds have recently bought and sold shares of PPC. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at $29,000. Raleigh Capital Management Inc. acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at $34,000. ORG Partners LLC acquired a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth $32,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 4.9 %

Shares of PPC opened at $53.78 on Friday. The stock has a market capitalization of $12.75 billion, a P/E ratio of 12.64, a PEG ratio of 0.20 and a beta of 0.81. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The firm has a fifty day simple moving average of $45.10 and a two-hundred day simple moving average of $40.84. Pilgrim’s Pride has a twelve month low of $25.23 and a twelve month high of $53.91.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.36. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. Pilgrim’s Pride’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. On average, research analysts anticipate that Pilgrim’s Pride will post 5.21 EPS for the current 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.