BidaskClub Upgrades Pilgrim’s Pride Corporation (PPC) to “Strong-Buy”

Pilgrim’s Pride Corporation (NASDAQ:PPC) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts have also commented on PPC. Zacks Investment Research upgraded Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, August 2nd. ValuEngine raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC set a $25.00 price target on Pilgrim’s Pride Corporation and gave the stock a “hold” rating in a research note on Tuesday, August 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $24.00 price target on shares of Pilgrim’s Pride Corporation in a research note on Friday, August 25th. Finally, Vertical Research downgraded Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Six investment analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $29.20.

Shares of Pilgrim’s Pride Corporation (PPC) opened at $34.24 on Wednesday. Pilgrim’s Pride Corporation has a 52-week low of $17.15 and a 52-week high of $35.00. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.65. The company has a market capitalization of $8,589.42, a PE ratio of 13.38 and a beta of 0.21.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last announced its earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.77 by $0.21. Pilgrim’s Pride Corporation 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 company earned $0.40 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. research analysts forecast that Pilgrim’s Pride Corporation will post 2.77 earnings per share for the current year.

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A number of hedge funds have recently bought and sold shares of the stock. Delphi Management Inc. MA raised its stake in shares of Pilgrim’s Pride Corporation by 11.2% in the second quarter. Delphi Management Inc. MA now owns 97,316 shares of the company’s stock worth $2,133,000 after purchasing an additional 9,803 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Pilgrim’s Pride Corporation by 2.2% in the second quarter. California Public Employees Retirement System now owns 169,900 shares of the company’s stock worth $3,724,000 after purchasing an additional 3,600 shares during the last quarter. LSV Asset Management raised its stake in shares of Pilgrim’s Pride Corporation by 8.1% in the second quarter. LSV Asset Management now owns 10,195,841 shares of the company’s stock worth $223,492,000 after purchasing an additional 767,317 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Pilgrim’s Pride Corporation by 9.9% in the first quarter. Dimensional Fund Advisors LP now owns 792,740 shares of the company’s stock worth $17,840,000 after purchasing an additional 71,211 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its stake in shares of Pilgrim’s Pride Corporation by 44.3% in the second quarter. Chicago Equity Partners LLC now owns 194,290 shares of the company’s stock worth $4,259,000 after purchasing an additional 59,670 shares during the last quarter. 24.50% of the stock is currently owned by institutional investors and hedge funds.

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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