Pilgrim’s Pride (NASDAQ:PPC) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from a buy rating to a strong-buy rating in a research note published on Saturday.

Several other brokerages have also recently issued reports on PPC. BMO Capital Markets lifted their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. Santander initiated coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.67.

Pilgrim’s Pride Trading Up 1.4%

PPC opened at $46.08 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.02. The stock has a market cap of $10.93 billion, a PE ratio of 9.09 and a beta of 0.48. The business has a 50 day moving average of $48.95 and a 200-day moving average of $49.43. Pilgrim’s Pride has a 52 week low of $36.52 and a 52 week high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. Pilgrim’s Pride had a return on equity of 36.95% and a net margin of 6.72%. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts predict that Pilgrim’s Pride will post 5.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pilgrim’s Pride

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group increased its holdings in Pilgrim’s Pride by 309.4% during the first quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after buying an additional 492 shares during the last quarter. Accredited Wealth Management LLC bought a new position in Pilgrim’s Pride in the 4th quarter worth $41,000. Quarry LP bought a new position in Pilgrim’s Pride in the 1st quarter worth $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pilgrim’s Pride in the 4th quarter worth $55,000. Finally, Raleigh Capital Management Inc. purchased a new stake in Pilgrim’s Pride in the first quarter worth about $74,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.