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

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have received an average rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $45.50.

PPC has been the subject of a number of research analyst reports. Stephens began coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price objective for the company. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Thursday, August 15th. Argus increased their price objective 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. Barclays lifted their target price on 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. Finally, BMO Capital Markets increased their price target on 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.

Institutional Investors Weigh In On Pilgrim’s Pride

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in Pilgrim’s Pride by 325.8% during the 3rd quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock valued at $2,485,000 after buying an additional 42,136 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Pilgrim’s Pride by 31.5% during the third quarter. Tidal Investments LLC now owns 43,745 shares of the company’s stock valued at $2,014,000 after acquiring an additional 10,489 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at approximately $141,000. World Investment Advisors LLC acquired a new stake in Pilgrim’s Pride in the 3rd quarter worth approximately $808,000. Finally, Sanctuary Advisors LLC purchased a new stake in Pilgrim’s Pride during the 3rd quarter worth approximately $1,860,000. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 2.2 %

Shares of NASDAQ PPC opened at $51.61 on Thursday. Pilgrim’s Pride has a fifty-two week low of $25.33 and a fifty-two week high of $55.50. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The company has a market cap of $12.24 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.21 and a beta of 0.81. The business’s 50 day moving average price is $48.16 and its 200-day moving average price is $42.84.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. On average, sell-side analysts expect that Pilgrim’s Pride will post 4.91 earnings per share for the current year.

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.