Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.75.

PPC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Monday, January 7th. ValuEngine lowered Pilgrim’s Pride from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. Finally, BidaskClub lowered Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st.

PPC opened at $20.43 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.73. Pilgrim’s Pride has a 1 year low of $14.83 and a 1 year high of $27.37. The company has a market cap of $5.17 billion, a P/E ratio of 7.07 and a beta of 0.82.

Pilgrim’s Pride announced that its Board of Directors has authorized a share buyback program on Wednesday, October 31st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Several hedge funds have recently modified their holdings of the company. Pearl River Capital LLC purchased a new position in shares of Pilgrim’s Pride in the 4th quarter valued at approximately $48,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Pilgrim’s Pride in the 4th quarter valued at approximately $64,000. Great West Life Assurance Co. Can purchased a new position in shares of Pilgrim’s Pride in the 4th quarter valued at approximately $107,000. Creative Planning purchased a new position in shares of Pilgrim’s Pride in the 4th quarter valued at approximately $157,000. Finally, Parametrica Management Ltd purchased a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at approximately $183,000. Hedge funds and other institutional investors own 19.32% 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.

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

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