Pilgrim's Pride Co. Stock Rating Lowered by Zacks (PPC)
Pilgrim's Pride Co. (NYSE:PPC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Tuesday. They currently have a $31.80 price target on the stock. Zacks‘s price target would suggest a potential upside of 9.84% from the stock’s previous close.
Pilgrim's Pride Co. (NYSE:PPC) traded up 1.80% on Tuesday, hitting $29.47. 1,558,585 shares of the company’s stock traded hands. Pilgrim's Pride Co. has a 1-year low of $13.76 and a 1-year high of $29.13. The stock’s 50-day moving average is $25.77 and its 200-day moving average is $20.56. The company has a market cap of $7.634 billion and a price-to-earnings ratio of 12.65.
Pilgrim's Pride Co. (NYSE:PPC) last released its earnings data on Wednesday, April 30th. The company reported $0.38 EPS for the quarter, meeting the Thomson Reuters 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 Co. will post $1.96 EPS for the current fiscal year.
A number of other firms have also recently commented on PPC. Analysts at Macquarie initiated coverage on shares of Pilgrim's Pride Co. in a research note on Thursday, June 26th. They set a “neutral” rating and a $25.00 price target on the stock. Separately, analysts at Stephens downgraded shares of Pilgrim's Pride Co. from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 24th. They now have a $25.00 price target on the stock. Finally, analysts at BB&T Corp. downgraded shares of Pilgrim's Pride Co. 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. Five investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $24.70.
Pilgrim’s Pride Corp (NYSE:PPC) is a chicken producer with operations in the United States, Mexico and Puerto Rico.
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