Pilgrim’s Pride (NASDAQ:PPC) Given “Buy” Rating at Barclays

Barclays reissued their buy rating on shares of Pilgrim’s Pride (NASDAQ:PPC) in a report released on Sunday, May 5th, AnalystRatings.com reports.

Several other research analysts have also recently weighed in on PPC. Stephens assumed coverage on Pilgrim’s Pride in a research report on Monday, March 4th. They issued an overweight rating and a $19.75 price objective on the stock. BMO Capital Markets boosted their price objective on Pilgrim’s Pride to $31.00 and gave the stock an in-line rating in a research report on Friday, May 3rd. They noted that the move was a valuation call. ValuEngine raised Pilgrim’s Pride from a hold rating to a buy rating in a research report on Thursday, April 18th. Zacks Investment Research raised Pilgrim’s Pride from a strong sell rating to a hold rating in a research report on Monday, January 7th. Finally, BidaskClub raised Pilgrim’s Pride from a sell rating to a hold rating in a research report on Thursday, January 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $24.75.

Pilgrim’s Pride stock traded up $0.67 during mid-day trading on Friday, reaching $26.01. The stock had a trading volume of 1,322,200 shares, compared to its average volume of 1,054,511. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.83 and a current ratio of 1.68. Pilgrim’s Pride has a fifty-two week low of $14.83 and a fifty-two week high of $29.32. The stock has a market capitalization of $6.71 billion, a PE ratio of 20.32 and a beta of 0.90.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Pilgrim’s Pride had a return on equity of 14.13% and a net margin of 1.95%. Pilgrim’s Pride’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Research analysts forecast that Pilgrim’s Pride will post 1.65 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Zebra Capital Management LLC grew its position in Pilgrim’s Pride by 3.1% during the first quarter. Zebra Capital Management LLC now owns 26,306 shares of the company’s stock worth $586,000 after buying an additional 792 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in Pilgrim’s Pride by 50.6% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,315 shares of the company’s stock worth $172,000 after buying an additional 2,459 shares in the last quarter. Morgan Stanley grew its position in Pilgrim’s Pride by 59.3% during the first quarter. Morgan Stanley now owns 321,090 shares of the company’s stock worth $7,156,000 after buying an additional 119,553 shares in the last quarter. Coastal Investment Advisors Inc. purchased a new position in Pilgrim’s Pride during the first quarter worth about $45,000. Finally, SEI Investments Co grew its position in Pilgrim’s Pride by 105.9% during the first quarter. SEI Investments Co now owns 77,991 shares of the company’s stock worth $1,726,000 after buying an additional 40,106 shares in the last quarter. Institutional investors and hedge funds own 18.88% of the company’s stock.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

See Also: Futures Contract

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

Receive News & Ratings for Pilgrim's Pride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pilgrim's Pride and related companies with MarketBeat.com's FREE daily email newsletter.