Pilgrim's Pride (NASDAQ:PPC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Over the last three months Pilgrim's Pride's shares have underperformed the industry. We fear that impending headwinds within the industry might depress the company's near-term results. Sudden supply-demand imbalance or fluctuations in price of major inputs might hurt the company's profitability in the quarters ahead. Stiff industry rivalry also remains one of the major cause of concern. Moreover, occurance of a natural disasters like hurrican or outbreak of a livestock disease might weigh over the company's revenues and profitability going forward. Over the last 60 days, Zacks Consensus Estimate for the stock has moved south for 2018.”

Other analysts have also issued research reports about the company. BidaskClub lowered Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Jefferies Group set a $32.00 target price on Pilgrim's Pride and gave the stock a “hold” rating in a research note on Thursday, November 16th. Morgan Stanley increased their target price on Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th. BMO Capital Markets increased their target price on Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, November 9th. Finally, ValuEngine lowered Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Pilgrim's Pride presently has a consensus rating of “Hold” and an average price target of $32.50.

Pilgrim's Pride (NASDAQ:PPC) traded up $0.18 during trading hours on Tuesday, reaching $29.69. The company had a trading volume of 1,033,100 shares, compared to its average volume of 1,562,111. Pilgrim's Pride has a one year low of $18.10 and a one year high of $38.39. The stock has a market cap of $7,400.00, a price-to-earnings ratio of 11.74 and a beta of 0.29. The company has a quick ratio of 0.81, a current ratio of 1.65 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.21. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. Pilgrim's Pride’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts anticipate that Pilgrim's Pride will post 2.85 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pilgrim's Pride by 6.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock valued at $105,000 after purchasing an additional 267 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in Pilgrim's Pride by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 5,016 shares of the company’s stock valued at $113,000 after purchasing an additional 2,360 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Pilgrim's Pride by 283.3% during the second quarter. Acrospire Investment Management LLC now owns 4,600 shares of the company’s stock valued at $117,000 after purchasing an additional 3,400 shares in the last quarter. Huntington National Bank bought a new stake in Pilgrim's Pride during the second quarter valued at about $121,000. Finally, Legal & General Group Plc boosted its position in Pilgrim's Pride by 3.4% during the first quarter. Legal & General Group Plc now owns 4,950 shares of the company’s stock valued at $126,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 24.60% 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.

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