Pilgrim’s Pride Corporation (NASDAQ:PPC)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group LLC in a report issued on Friday. They currently have a $27.00 price objective on the stock, up from their previous price objective of $25.00. Jefferies Group LLC’s price target suggests a potential downside of 7.38% from the company’s current price.

A number of other equities research analysts have also recently weighed in on PPC. BidaskClub cut Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. BMO Capital Markets reiterated a “hold” rating and issued a $24.00 price objective on shares of Pilgrim’s Pride Corporation in a research note on Tuesday, June 27th. Zacks Investment Research upgraded Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, August 2nd. ValuEngine upgraded Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Vertical Research cut Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company’s stock. Pilgrim’s Pride Corporation presently has an average rating of “Buy” and an average target price of $25.00.

Pilgrim’s Pride Corporation (NASDAQ PPC) opened at 29.15 on Friday. The firm has a market cap of $7.25 billion, a P/E ratio of 14.71 and a beta of 0.14. Pilgrim’s Pride Corporation has a 12-month low of $17.15 and a 12-month high of $30.00. The stock’s 50 day moving average is $28.86 and its 200 day moving average is $24.96.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its earnings results on Wednesday, August 2nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Pilgrim’s Pride Corporation had a return on equity of 49.65% and a net margin of 6.05%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, equities research analysts expect that Pilgrim’s Pride Corporation will post $2.61 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 last quarter. Seven Eight Capital LP purchased a new stake in Pilgrim’s Pride Corporation in the second quarter valued at approximately $134,000. The Manufacturers Life Insurance Company lifted its stake in Pilgrim’s Pride Corporation by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after buying an additional 798 shares during the last quarter. Amalgamated Bank purchased a new stake in Pilgrim’s Pride Corporation in the second quarter valued at approximately $219,000. Finally, Regentatlantic Capital LLC purchased a new stake in Pilgrim’s Pride Corporation in the second quarter valued at approximately $220,000. Institutional investors own 24.33% 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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