Pilgrim’s Pride Corporation (NASDAQ:PPC) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Other research analysts also recently issued reports about the stock. BMO Capital Markets reissued 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. BidaskClub raised shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Jefferies Group LLC reissued a “hold” rating and set a $25.00 price target on shares of Pilgrim’s Pride Corporation in a research note on Friday, July 14th. Finally, Zacks Investment Research raised shares of Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $24.50.

Shares of Pilgrim’s Pride Corporation (NASDAQ PPC) opened at 29.51 on Friday. Pilgrim’s Pride Corporation has a 12-month low of $17.15 and a 12-month high of $29.86. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 14.89 and a beta of 0.19. The firm’s 50-day moving average is $26.05 and its 200-day moving average is $23.65.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.28 billion. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, equities analysts predict that Pilgrim’s Pride Corporation will post $2.49 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. Neuburgh Advisers LLC boosted its stake in Pilgrim’s Pride Corporation by 35.4% in the first quarter. Neuburgh Advisers LLC now owns 104,672 shares of the company’s stock valued at $2,356,000 after buying an additional 27,344 shares during the period. Parkwood LLC boosted its stake in Pilgrim’s Pride Corporation by 9.5% in the first quarter. Parkwood LLC now owns 34,829 shares of the company’s stock valued at $784,000 after buying an additional 3,019 shares during the period. Sei Investments Co. boosted its stake in Pilgrim’s Pride Corporation by 7.1% in the first quarter. Sei Investments Co. now owns 27,061 shares of the company’s stock valued at $609,000 after buying an additional 1,787 shares during the period. Karp Capital Management Corp bought a new stake in Pilgrim’s Pride Corporation during the first quarter valued at $1,255,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pilgrim’s Pride Corporation by 6.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock valued at $105,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds own 24.34% of the company’s stock.

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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