Pilgrim's Pride (NASDAQ:PPC) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

PPC has been the subject of a number of other reports. KeyCorp assumed coverage on Pilgrim's Pride in a research note on Tuesday, October 31st. They set a “hold” rating for the company. Jefferies Group restated a “hold” rating and set a $27.00 price target (up from $25.00) on shares of Pilgrim's Pride in a research note on Friday, October 6th. ValuEngine upgraded Pilgrim's Pride from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BMO Capital Markets restated a “hold” rating and set a $24.00 price target on shares of Pilgrim's Pride in a research note on Friday, August 25th. Finally, Vertical Research downgraded Pilgrim's Pride from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. Pilgrim's Pride presently has an average rating of “Buy” and an average target price of $32.50.

Pilgrim's Pride (NASDAQ PPC) traded down $1.25 during trading on Tuesday, hitting $35.90. The company’s stock had a trading volume of 1,401,400 shares, compared to its average volume of 1,259,794. The company has a market cap of $9,241.16, a P/E ratio of 14.40 and a beta of 0.29. Pilgrim's Pride has a 1-year low of $17.78 and a 1-year high of $38.39. The company has a current ratio of 1.65, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49.

Pilgrim's Pride (NASDAQ:PPC) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.21. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.32 billion. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. equities research analysts forecast that Pilgrim's Pride will post 2.85 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its stake in shares of Pilgrim's Pride by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock valued at $412,000 after acquiring an additional 347 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Pilgrim's Pride by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after acquiring an additional 798 shares during the period. Voya Investment Management LLC grew its stake in shares of Pilgrim's Pride by 4.3% during the 2nd quarter. Voya Investment Management LLC now owns 19,808 shares of the company’s stock valued at $434,000 after acquiring an additional 813 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Pilgrim's Pride by 0.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 383,553 shares of the company’s stock valued at $10,897,000 after acquiring an additional 1,676 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of Pilgrim's Pride by 3.4% during the 3rd quarter. Macquarie Group Ltd. now owns 61,400 shares of the company’s stock valued at $1,745,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 24.62% of the company’s stock.

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About Pilgrim's Pride

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 (NASDAQ:PPC)

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