Pilgrim’s Pride (NASDAQ:PPC) Trading Up 4.1% – Should You Buy?

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) shot up 4.1% during trading on Monday . The company traded as high as $48.21 and last traded at $48.43. Approximately 269,498 shares were traded during trading, a decline of 70% from the average session volume of 885,483 shares. The stock had previously closed at $46.54.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Barclays raised their price target on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Stock Performance

The company’s 50 day simple moving average is $47.46 and its 200 day simple moving average is $46.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The stock has a market cap of $11.31 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82.

Institutional Trading of Pilgrim’s Pride

Hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in Pilgrim’s Pride during the third quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in shares of Pilgrim’s Pride during the 3rd quarter worth $29,000. Raleigh Capital Management Inc. purchased a new stake in Pilgrim’s Pride in the 3rd quarter worth about $34,000. Quarry LP raised its stake in Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after acquiring an additional 707 shares during the period. Finally, R Squared Ltd purchased a new stake in Pilgrim’s Pride during the fourth quarter valued at about $59,000. 16.64% of the stock is currently owned by institutional investors.

About Pilgrim’s Pride

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.