Pilgrim’s Pride Co. (NASDAQ:PPC) Receives $45.50 Consensus Target Price from Analysts

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $45.50.

Several equities research analysts have commented on the stock. Stephens began coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Barclays boosted their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, BMO Capital Markets raised their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st.

Hedge Funds Weigh In On Pilgrim’s Pride

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Pilgrim’s Pride during the 3rd quarter worth about $27,000. ORG Wealth Partners LLC purchased a new position in Pilgrim’s Pride during the third quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Pilgrim’s Pride in the 2nd quarter valued at approximately $32,000. Raleigh Capital Management Inc. purchased a new stake in Pilgrim’s Pride in the 3rd quarter worth approximately $34,000. Finally, Quarry LP boosted its stake in shares of Pilgrim’s Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after buying an additional 707 shares during the period. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim’s Pride Trading Up 0.7 %

Pilgrim’s Pride stock opened at $45.92 on Monday. Pilgrim’s Pride has a 12-month low of $26.52 and a 12-month high of $55.50. The stock has a market capitalization of $10.89 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. The firm has a 50 day simple moving average of $49.69 and a 200-day simple moving average of $44.60. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.58 EPS. As a group, equities research analysts expect that Pilgrim’s Pride will post 5.12 EPS for the current fiscal year.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.