Pilgrim’s Pride (NASDAQ:PPC) Sets New 52-Week High – Should You Buy?

Pilgrim’s Pride Co. (NASDAQ:PPC) shares reached a new 52-week high on Wednesday . The company traded as high as $55.34 and last traded at $53.85, with a volume of 4251 shares trading hands. The stock had previously closed at $53.78.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PPC. Barclays raised their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Stephens initiated coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price on the stock. Argus upped their price target on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Bank of America cut shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Thursday, August 15th. Finally, BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Down 0.9 %

The company’s fifty day simple moving average is $45.54 and its 200-day simple moving average is $41.13. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. The firm has a market capitalization of $12.41 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.20 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company 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 posted $0.58 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts forecast that Pilgrim’s Pride Co. will post 5.21 EPS for the current year.

Hedge Funds Weigh In On Pilgrim’s Pride

A number of large investors have recently added to or reduced their stakes in PPC. Chesapeake Capital Corp IL lifted its stake in Pilgrim’s Pride by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 17,668 shares of the company’s stock worth $778,000 after purchasing an additional 3,855 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Pilgrim’s Pride by 3.3% in the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock valued at $315,000 after purchasing an additional 216 shares during the last quarter. Entropy Technologies LP purchased a new position in Pilgrim’s Pride during the third quarter worth approximately $588,000. United Capital Management of KS Inc. acquired a new position in Pilgrim’s Pride during the third quarter worth $6,277,000. Finally, Sigma Planning Corp purchased a new stake in Pilgrim’s Pride in the 3rd quarter valued at $757,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Company Profile

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.