Pilgrim’s Pride Corporation (NASDAQ:PPC) has been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $25.00.

A number of equities research analysts have recently commented on the stock. Vertical Research downgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. ValuEngine upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. BMO Capital Markets reiterated a “hold” rating and set a $24.00 price target on shares of Pilgrim’s Pride Corporation in a report on Friday, August 25th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $25.00 price target on shares of Pilgrim’s Pride Corporation in a report on Friday, July 14th.

Several hedge funds and other institutional investors have recently modified their holdings of PPC. Seven Eight Capital LP acquired a new stake in shares of Pilgrim’s Pride Corporation in the second quarter worth approximately $134,000. The Manufacturers Life Insurance Company boosted its position in shares of Pilgrim’s Pride Corporation by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock worth $201,000 after acquiring an additional 798 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Pilgrim’s Pride Corporation in the second quarter worth approximately $219,000. Regentatlantic Capital LLC acquired a new stake in shares of Pilgrim’s Pride Corporation in the second quarter worth approximately $220,000. Finally, TrimTabs Asset Management LLC boosted its position in shares of Pilgrim’s Pride Corporation by 105.0% in the second quarter. TrimTabs Asset Management LLC now owns 10,281 shares of the company’s stock worth $225,000 after acquiring an additional 5,265 shares during the last quarter. Institutional investors and hedge funds own 24.43% of the company’s stock.

Pilgrim’s Pride Corporation (PPC) opened at 31.05 on Friday. The firm has a 50-day moving average of $29.28 and a 200 day moving average of $25.74. Pilgrim’s Pride Corporation has a 12-month low of $17.15 and a 12-month high of $31.42. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 15.67 and a beta of 0.14.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.28 billion. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, equities analysts predict that Pilgrim’s Pride Corporation will post $2.61 EPS for the current year.

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Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

Analyst Recommendations for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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