Pilgrim’s Pride (NASDAQ:PPC) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday, BidAskClub reports.

Other equities analysts have also issued reports about the company. ValuEngine raised Pilgrim’s Pride from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Stephens began coverage on Pilgrim’s Pride in a report on Monday, March 4th. They issued an “overweight” rating and a $19.75 price target for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.00 price target on shares of Pilgrim’s Pride in a report on Sunday, February 17th. Finally, Zacks Investment Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Monday, January 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.63.

Pilgrim’s Pride stock opened at $23.23 on Friday. Pilgrim’s Pride has a one year low of $14.83 and a one year high of $24.30. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.72 and a quick ratio of 0.83. The firm has a market capitalization of $5.68 billion, a PE ratio of 18.15 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, February 13th. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.09). Pilgrim’s Pride had a return on equity of 16.52% and a net margin of 2.27%. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $0.54 earnings per share. Pilgrim’s Pride’s revenue was down 3.1% on a year-over-year basis. Analysts anticipate that Pilgrim’s Pride will post 1.52 EPS for the current fiscal year.

In related news, CEO William W. Lovette sold 86,425 shares of Pilgrim’s Pride stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $20.30, for a total transaction of $1,754,427.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 78.81% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its stake in Pilgrim’s Pride by 4.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,407 shares of the company’s stock worth $239,000 after purchasing an additional 693 shares during the last quarter. Rhumbline Advisers lifted its stake in Pilgrim’s Pride by 2.4% during the fourth quarter. Rhumbline Advisers now owns 47,815 shares of the company’s stock worth $742,000 after purchasing an additional 1,108 shares during the last quarter. Legal & General Group Plc lifted its stake in Pilgrim’s Pride by 7.2% during the fourth quarter. Legal & General Group Plc now owns 30,356 shares of the company’s stock worth $471,000 after purchasing an additional 2,047 shares during the last quarter. Van ECK Associates Corp lifted its stake in Pilgrim’s Pride by 1.8% during the fourth quarter. Van ECK Associates Corp now owns 163,128 shares of the company’s stock worth $2,530,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in Pilgrim’s Pride during the fourth quarter worth about $48,000. 19.12% of the stock is owned by hedge funds and other institutional investors.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Analyst Recommendations for Pilgrim`s Pride (NASDAQ:PPC)

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