Stephens Downgrades Pilgrim’s Pride Corp. to Equal Weight (PPC)
Pilgrim’s Pride Corp. (NYSE:PPC) was downgraded by Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on PPC. Analysts at BB&T Corp. downgraded shares of Pilgrim’s Pride Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 6th. They noted that the move was a valuation call. Analysts at Zacks upgraded shares of Pilgrim’s Pride Corp. from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 6th. They now have a $25.10 price target on the stock.
Pilgrim’s Pride Corp. (NYSE:PPC) opened at 24.44 on Tuesday. Pilgrim’s Pride Corp. has a 1-year low of $12.71 and a 1-year high of $26.87. The stock has a 50-day moving average of $24.9 and a 200-day moving average of $19.81. The company has a market cap of $6.331 billion and a P/E ratio of 11.02.
Pilgrim’s Pride Corp. (NYSE:PPC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $1.99 billion. Analysts expect that Pilgrim’s Pride Corp. will post $1.86 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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