Pilgrim’s Pride Corporation (PPC) Receives New Coverage from Analysts at Morgan Stanley

Investment analysts at Morgan Stanley initiated coverage on shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) in a research note issued to investors on Friday. The brokerage set an “equal weight” rating on the stock.

A number of other analysts have also commented on PPC. KeyCorp assumed coverage on Pilgrim’s Pride Corporation in a report on Tuesday. They issued a “hold” rating for the company. Jefferies Group LLC set a $25.00 target price on Pilgrim’s Pride Corporation and gave the stock a “hold” rating in a report on Tuesday, August 15th. BidaskClub raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research raised Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Wednesday, August 2nd. Finally, ValuEngine raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Six analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.00.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.28 billion. Pilgrim’s Pride Corporation had a return on equity of 49.65% and a net margin of 6.05%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2017/11/03/pilgrims-pride-corporation-ppc-receives-new-coverage-from-analysts-at-morgan-stanley.html.

Hedge funds have recently added to or reduced their stakes in the company. Delphi Management Inc. MA boosted its stake in shares of Pilgrim’s Pride Corporation by 11.2% in the 2nd quarter. Delphi Management Inc. MA now owns 97,316 shares of the company’s stock worth $2,133,000 after buying an additional 9,803 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Pilgrim’s Pride Corporation by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 169,900 shares of the company’s stock worth $3,724,000 after buying an additional 3,600 shares during the last quarter. LSV Asset Management boosted its stake in shares of Pilgrim’s Pride Corporation by 8.1% in the 2nd quarter. LSV Asset Management now owns 10,195,841 shares of the company’s stock worth $223,492,000 after buying an additional 767,317 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Pilgrim’s Pride Corporation by 9.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 792,740 shares of the company’s stock worth $17,840,000 after buying an additional 71,211 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in shares of Pilgrim’s Pride Corporation by 44.3% in the 2nd quarter. Chicago Equity Partners LLC now owns 194,290 shares of the company’s stock worth $4,259,000 after buying an additional 59,670 shares during the last quarter. Hedge funds and other institutional investors own 24.35% of the company’s stock.

Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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

What are top analysts saying about Pilgrim's Pride Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Pilgrim's Pride Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit