BidaskClub lowered shares of Pilgrim's Pride (NASDAQ:PPC) from a strong-buy rating to a buy rating in a report released on Tuesday.

PPC has been the subject of several other reports. KeyCorp assumed coverage on Pilgrim's Pride in a research report on Tuesday, October 31st. They issued a hold rating for the company. Jefferies Group reaffirmed a hold rating and issued a $27.00 target price (up from $25.00) on shares of Pilgrim's Pride in a research report on Friday, October 6th. ValuEngine raised Pilgrim's Pride from a buy rating to a strong-buy rating in a research report on Friday, September 1st. BMO Capital Markets reaffirmed a hold rating and issued a $24.00 target price on shares of Pilgrim's Pride in a research report on Friday, August 25th. Finally, Vertical Research cut Pilgrim's Pride from a buy rating to a hold rating in a report on Tuesday, September 5th. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $32.50.

Shares of Pilgrim's Pride (PPC) traded down $0.35 during mid-day trading on Tuesday, reaching $35.55. The company had a trading volume of 1,111,800 shares, compared to its average volume of 1,259,175. The company has a market capitalization of $8,930.21, a PE ratio of 13.91 and a beta of 0.29. Pilgrim's Pride has a 52-week low of $17.78 and a 52-week high of $38.39. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.65.

Pilgrim's Pride (NASDAQ:PPC) last issued its earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.77 by $0.21. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. Pilgrim's Pride’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.40 earnings per share. research analysts anticipate that Pilgrim's Pride will post 2.85 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of PPC. Seven Eight Capital LP acquired a new stake in shares of Pilgrim's Pride in the second quarter valued at $134,000. New York State Teachers Retirement System acquired a new stake in shares of Pilgrim's Pride in the third quarter valued at $134,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Pilgrim's Pride by 57.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock valued at $167,000 after buying an additional 2,139 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Pilgrim's Pride 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 in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Pilgrim's Pride in the second quarter valued at $219,000. 24.62% of the stock is owned by institutional investors.

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About Pilgrim's Pride

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 (NASDAQ:PPC)

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