Analysts Set Pilgrim’s Pride Co. (NASDAQ:PPC) Target Price at $45.50

Pilgrim’s Pride Co. (NASDAQ:PPC) has been given a consensus rating of “Hold” by the six analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $45.50.

Several equities analysts have commented on the stock. Stephens initiated coverage on shares of 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. BMO Capital Markets increased their price objective on 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, Barclays raised their price objective on 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.

Pilgrim’s Pride Stock Up 0.7 %

Shares of Pilgrim’s Pride stock opened at $45.92 on Monday. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.20 and a beta of 0.82. The stock has a 50-day simple moving average of $49.69 and a 200-day simple moving average of $44.60. Pilgrim’s Pride has a 52-week low of $26.52 and a 52-week high of $55.50. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27.

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

Hedge Funds Weigh In On Pilgrim’s Pride

Several large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new position in Pilgrim’s Pride in the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Pilgrim’s Pride in the third quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Pilgrim’s Pride during the second quarter worth $32,000. Raleigh Capital Management Inc. acquired a new position in Pilgrim’s Pride during the 3rd quarter valued at $34,000. Finally, Quarry LP boosted its holdings in Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

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.