Shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) have been given an average rating of “Buy” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $31.25.
Several brokerages have commented on PPC. Bank of America began coverage on Pilgrim’s Pride in a research note on Monday, February 28th. They set a “neutral” rating for the company. StockNews.com raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 3rd. TheStreet upgraded Pilgrim’s Pride from a “c” rating to a “b-” rating in a research note on Wednesday, April 27th. BMO Capital Markets upgraded Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $30.00 in a research note on Thursday, March 10th. Finally, Barclays assumed coverage on Pilgrim’s Pride in a report on Monday, March 14th. They issued an “overweight” rating and a $28.00 price target on the stock.
Shares of NASDAQ:PPC opened at $29.32 on Friday. Pilgrim’s Pride has a 52 week low of $20.23 and a 52 week high of $30.56. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.84 and a current ratio of 1.53. The company’s fifty day moving average is $26.42 and its 200-day moving average is $27.06. The company has a market capitalization of $7.05 billion, a PE ratio of 33.70, a P/E/G ratio of 0.62 and a beta of 0.96.
Pilgrim’s Pride (NASDAQ:PPC – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.53. Pilgrim’s Pride had a return on equity of 28.00% and a net margin of 1.34%. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, analysts forecast that Pilgrim’s Pride will post 3.24 EPS for the current year.
In other Pilgrim’s Pride news, CEO Fabio Sandri sold 171,000 shares of the stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $28.39, for a total value of $4,854,690.00. Following the completion of the transaction, the chief executive officer now directly owns 371,557 shares of the company’s stock, valued at $10,548,503.23. The sale was disclosed in a filing with the SEC, which is available at this link. 80.54% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PPC. Prospera Financial Services Inc acquired a new stake in shares of Pilgrim’s Pride in the 1st quarter worth approximately $25,000. First Quadrant LLC CA bought a new stake in Pilgrim’s Pride in the first quarter worth approximately $29,000. Koshinski Asset Management Inc. bought a new stake in shares of Pilgrim’s Pride during the 1st quarter worth $50,000. Quent Capital LLC bought a new stake in shares of Pilgrim’s Pride during the 4th quarter worth $51,000. Finally, PNC Financial Services Group Inc. raised its stake in Pilgrim’s Pride by 30.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,054 shares of the company’s stock valued at $52,000 after purchasing an additional 475 shares during the last quarter. 17.97% of the stock is owned by institutional investors.
About Pilgrim’s Pride (Get Rating)
Pilgrim’s Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.
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