Stephens Lowers Pilgrim’s Pride (NASDAQ:PPC) to Equal Weight

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.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, October 30th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Pilgrim’s Pride had a return on equity of 17.87% and a net margin of 3.24%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Sell-side analysts anticipate that Pilgrim’s Pride will post 1.74 earnings per share for the current year.

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

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