Pilgrim’s Pride (NASDAQ:PPC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

A number of other research firms have also issued reports on PPC. BMO Capital Markets raised their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Barclays boosted their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Trading Up 2.5 %

Pilgrim’s Pride stock opened at $53.13 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The business’s 50-day simple moving average is $47.80 and its 200-day simple moving average is $47.23. The firm has a market capitalization of $12.60 billion, a PE ratio of 11.65 and a beta of 0.82. Pilgrim’s Pride has a 52 week low of $28.49 and a 52 week high of $57.16.

Institutional Trading of Pilgrim’s Pride

Several institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in Pilgrim’s Pride during the third quarter worth $27,000. Accredited Wealth Management LLC acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at about $41,000. Quarry LP boosted its position in shares of Pilgrim’s Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after acquiring an additional 707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at about $55,000. Finally, R Squared Ltd bought a new stake in shares of Pilgrim’s Pride in the 4th quarter valued at approximately $59,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

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.