Pilgrim’s Pride Co. (NASDAQ:PPC) Receives $45.50 Consensus Price Target from Brokerages

Pilgrim’s Pride Co. (NASDAQ:PPC) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $45.50.

Several equities analysts have commented on PPC shares. Barclays increased their price objective on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Thursday, August 15th. Argus raised their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Stephens initiated coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Finally, BMO Capital Markets raised their price target on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st.

Pilgrim’s Pride Price Performance

PPC stock opened at $51.43 on Thursday. Pilgrim’s Pride has a 52 week low of $25.60 and a 52 week high of $55.50. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $48.49 and a two-hundred day simple moving average of $43.10. The firm has a market capitalization of $12.20 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 0.22 and a beta of 0.82.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter last year, the business earned $0.58 earnings per share. Pilgrim’s Pride’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Pilgrim’s Pride will post 4.91 earnings per share for the current fiscal year.

Institutional Trading of Pilgrim’s Pride

Institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in Pilgrim’s Pride in the 3rd quarter worth approximately $29,000. Raleigh Capital Management Inc. acquired a new stake in Pilgrim’s Pride in the 3rd quarter worth approximately $34,000. ORG Partners LLC acquired a new stake in Pilgrim’s Pride in the 2nd quarter worth approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pilgrim’s Pride in the 2nd quarter worth approximately $32,000. 16.64% of the stock is currently owned by institutional investors.

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.