Pilgrim’s Pride Corp. Stock Rating Lowered by Zacks (PPC)
Pilgrim’s Pride Corp. (NYSE:PPC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Thursday, Analyst RN reports. They currently have a $17.50 price target on the stock. Zacks‘ price target would suggest a potential upside of 21.78% from the company’s current price.
A number of other firms have also recently commented on PPC. Analysts at BMO Capital Markets cut their price target on shares of Pilgrim’s Pride Corp. from $21.00 to $19.00 in a research note to investors on Thursday, September 12th. They now have a “market perform” rating on the stock. Separately, analysts at Stephens downgraded shares of Pilgrim’s Pride Corp. 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. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Pilgrim’s Pride Corp. presently has a consensus rating of “Hold” and a consensus price target of $14.50.
Pilgrim’s Pride Corp. (NYSE:PPC) traded up 0.70% during mid-day trading on Thursday, hitting $14.47. 597,928 shares of the company’s stock traded hands. Pilgrim’s Pride Corp. has a 1-year low of $4.20 and a 1-year high of $19.23. The stock has a 50-day moving average of $16.72 and a 200-day moving average of $12.76. The company has a market cap of $3.748 billion and a P/E ratio of 11.97.
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. Analysts expect that Pilgrim’s Pride Corp. will post $2.14 EPS 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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