Wall Street Zen Upgrades Pilgrim’s Pride (NASDAQ:PPC) to Buy

Pilgrim’s Pride (NASDAQ:PPC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group dropped their price target on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Tuesday. Finally, Zacks Research upgraded Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.00.

Pilgrim’s Pride Stock Up 2.0%

PPC stock opened at $38.30 on Friday. Pilgrim’s Pride has a 1-year low of $35.73 and a 1-year high of $57.16. The business’s 50 day simple moving average is $38.37 and its 200 day simple moving average is $43.60. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $9.10 billion, a PE ratio of 7.42 and a beta of 0.48.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 37.75%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. As a group, research analysts anticipate that Pilgrim’s Pride will post 5.13 EPS for the current year.

Hedge Funds Weigh In On Pilgrim’s Pride

Hedge funds have recently modified their holdings of the business. Brooklyn Investment Group boosted its holdings in Pilgrim’s Pride by 309.4% in the first quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after acquiring an additional 492 shares during the last quarter. True Wealth Design LLC raised its holdings in Pilgrim’s Pride by 1,248.5% during the 3rd quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after purchasing an additional 849 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Pilgrim’s Pride in the 3rd quarter worth approximately $41,000. Clearstead Advisors LLC lifted its position in shares of Pilgrim’s Pride by 1,522.6% in the 3rd quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock worth $41,000 after purchasing an additional 944 shares during the period. Finally, Quarry LP bought a new stake in shares of Pilgrim’s Pride in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

About Pilgrim’s Pride

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.