Pilgrim’s Pride (PPC) Cut to Hold at BidaskClub

Pilgrim’s Pride (NASDAQ:PPC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms also recently weighed in on PPC. ValuEngine upgraded Pilgrim’s Pride from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. BMO Capital Markets lowered their target price on Pilgrim’s Pride to $20.00 and set a “market perform” rating on the stock in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.40.

NASDAQ PPC opened at $19.84 on Friday. The firm has a market cap of $4.94 billion, a P/E ratio of 6.87 and a beta of 0.16. The company has a current ratio of 1.73, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. Pilgrim’s Pride has a fifty-two week low of $16.01 and a fifty-two week high of $38.39.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, October 31st. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.34). The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Pilgrim’s Pride had a net margin of 3.53% and a return on equity of 22.95%. Pilgrim’s Pride’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. On average, equities research analysts anticipate that Pilgrim’s Pride will post 1.45 EPS for the current year.

Pilgrim’s Pride announced that its board has approved a share buyback plan on Wednesday, October 31st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Large investors have recently bought and sold shares of the business. Advisors Preferred LLC raised its holdings in Pilgrim’s Pride by 112.1% during the second quarter. Advisors Preferred LLC now owns 8,571 shares of the company’s stock valued at $173,000 after acquiring an additional 4,530 shares during the period. SG Americas Securities LLC raised its holdings in Pilgrim’s Pride by 129.2% during the second quarter. SG Americas Securities LLC now owns 8,673 shares of the company’s stock valued at $175,000 after acquiring an additional 38,405 shares during the period. Parametrica Management Ltd bought a new stake in Pilgrim’s Pride during the third quarter valued at about $183,000. Janus Henderson Group PLC bought a new stake in Pilgrim’s Pride during the second quarter valued at about $262,000. Finally, Sun Life Financial INC bought a new stake in Pilgrim’s Pride during the second quarter valued at about $267,000. 20.42% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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

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