Pilgrim’s Pride Corp. Price Target Lowered to $19.00 at BMO Capital Markets (PPC)
Equities research analysts at BMO Capital Markets lowered their price objective on shares of Pilgrim’s Pride Corp. (NYSE:PPC) from $21.00 to $19.00 in a research note issued to investors on Thursday, ARN reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 21.33% from the company’s current price.
A number of other analysts have also recently weighed in on PPC. Analysts at Stephens downgraded shares of Pilgrim’s Pride Corp. (NYSE:PPC) from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, August 15th. They now have a $20.00 price target on the stock, down previously from $23.00. Analysts at Ativo Research downgraded shares of Pilgrim’s Pride Corp. (NYSE:PPC) from an “unfavorable” rating to a “most unfavorable” rating in a research note to investors on Saturday, June 22nd.
Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.50.
Pilgrim’s Pride Corp. (NYSE:PPC) traded down 1.76% on Thursday, hitting $15.66. The stock had a trading volume of 689,681 shares. Pilgrim’s Pride Corp. has a 52-week low of $4.20 and a 52-week high of $19.23. The stock’s 50-day moving average is $16.75 and its 200-day moving average is $12.69. The company has a market cap of $4.056 billion and a price-to-earnings ratio of 13.27.
Pilgrim’s Pride Corp. (NYSE:PPC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.74 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.17. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company posted $0.27 earnings per share. Pilgrim’s Pride Corp.’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Pilgrim’s Pride Corp. will post $2.21 earnings per share for the current fiscal year.
Pilgrim’s Pride Corp (NYSE:PPC) is a chicken producer with operations in the United States, Mexico and Puerto Rico.
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