Stephens downgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from an overweight rating to an equal weight rating in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has $35.00 target price on the stock.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Pilgrim’s Pride from a hold rating to a strong-buy rating and set a $37.00 price objective for the company in a research report on Friday, January 3rd. Bank of America started coverage on Pilgrim’s Pride in a research report on Friday, October 25th. They issued a neutral rating and a $32.00 price objective for the company. BidaskClub cut Pilgrim’s Pride from a hold rating to a sell rating in a research report on Wednesday, January 8th. Finally, ValuEngine cut Pilgrim’s Pride from a buy rating to a hold rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $32.17.
Shares of Pilgrim’s Pride stock opened at $29.50 on Thursday. The stock has a market capitalization of $7.47 billion, a P/E ratio of 18.94, a PEG ratio of 0.55 and a beta of 0.74. The company has a quick ratio of 0.94, a current ratio of 1.82 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average price of $32.00 and a two-hundred day moving average price of $30.20. Pilgrim’s Pride has a 12-month low of $18.11 and a 12-month high of $33.67.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $1,097,000. Nisa Investment Advisors LLC raised its stake in shares of Pilgrim’s Pride by 200.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $49,000 after purchasing an additional 1,000 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Pilgrim’s Pride in the fourth quarter valued at $222,000. State of Alaska Department of Revenue raised its stake in shares of Pilgrim’s Pride by 4.4% in the fourth quarter. State of Alaska Department of Revenue now owns 9,717 shares of the company’s stock valued at $317,000 after purchasing an additional 412 shares in the last quarter. Finally, JS Capital Management LLC acquired a new position in shares of Pilgrim’s Pride in the third quarter valued at $388,000. 20.52% of the stock is owned by institutional investors.
About Pilgrim’s Pride
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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