Pilgrim's Pride (PPC) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of Pilgrim's Pride (NASDAQ:PPC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other equities research analysts have also issued reports on PPC. ValuEngine lowered shares of Pilgrim's Pride from a strong-buy rating to a buy rating in a report on Friday, December 15th. KeyCorp began coverage on shares of Pilgrim's Pride in a report on Tuesday, October 31st. They set a hold rating on the stock. Jefferies Group reaffirmed a hold rating and set a $27.00 price target (up from $25.00) on shares of Pilgrim's Pride in a report on Friday, October 6th. BMO Capital Markets reaffirmed a hold rating and set a $24.00 price target on shares of Pilgrim's Pride in a report on Friday, August 25th. Finally, Morgan Stanley lifted their price target on shares of Pilgrim's Pride from $30.00 to $32.00 and gave the company an equal weight rating in a report on Friday, November 10th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $32.50.

Pilgrim's Pride (PPC) opened at $31.42 on Wednesday. The company has a market cap of $7,830.00, a P/E ratio of 12.42 and a beta of 0.29. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49. Pilgrim's Pride has a 12-month low of $18.10 and a 12-month high of $38.39.

Pilgrim's Pride (NASDAQ:PPC) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.21. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.32 billion. Pilgrim's Pride had a net margin of 7.03% and a return on equity of 53.62%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. sell-side analysts predict that Pilgrim's Pride will post 2.85 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System bought a new stake in Pilgrim's Pride during the 3rd quarter worth approximately $134,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Pilgrim's Pride by 57.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock valued at $167,000 after purchasing an additional 2,139 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Pilgrim's Pride in the 2nd quarter valued at $134,000. CIBC Asset Management Inc bought a new stake in shares of Pilgrim's Pride in the 3rd quarter valued at $237,000. Finally, FCA Corp TX bought a new stake in shares of Pilgrim's Pride in the 3rd quarter valued at $244,000. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

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Pilgrim's Pride 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 (NASDAQ:PPC)

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