Pilgrim’s Pride Co. (NASDAQ:PPC) Receives Consensus Recommendation of “Hold” from Brokerages

Pilgrim’s Pride Co. (NASDAQ:PPC) has earned an average rating of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $45.50.

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, Stephens assumed coverage on Pilgrim’s Pride in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price on the stock.

Pilgrim’s Pride Price Performance

Shares of PPC opened at $45.92 on Monday. The business’s 50-day moving average is $49.69 and its two-hundred day moving average is $44.66. The company has a market capitalization of $10.89 billion, a P/E ratio of 11.09, a P/E/G ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. Pilgrim’s Pride has a fifty-two week low of $26.52 and a fifty-two week high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.27 by $0.36. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same period last year, the company earned $0.58 earnings per share. Pilgrim’s Pride’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that Pilgrim’s Pride will post 5.12 earnings per share for the current year.

Institutional Investors Weigh In On Pilgrim’s Pride

Institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim’s Pride in the third quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new position in Pilgrim’s Pride in the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pilgrim’s Pride in the 2nd quarter valued at $32,000. Raleigh Capital Management Inc. acquired a new stake in Pilgrim’s Pride during the 3rd quarter worth $34,000. Finally, Quarry LP grew its holdings in shares of Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after buying an additional 707 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.