Pilgrim’s Pride (NASDAQ:PPC) Stock Rating Lowered by Wall Street Zen

Pilgrim’s Pride (NASDAQ:PPC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other analysts also recently issued research reports about the company. Zacks Research downgraded Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Weiss Ratings upgraded shares of Pilgrim’s Pride from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, The Goldman Sachs Group dropped their price target on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.00.

Pilgrim’s Pride Stock Performance

NASDAQ PPC opened at $38.10 on Friday. The company has a 50-day simple moving average of $40.80 and a two-hundred day simple moving average of $45.36. Pilgrim’s Pride has a 12-month low of $35.73 and a 12-month high of $57.16. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 7.38 and a beta of 0.45. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.65 billion. Pilgrim’s Pride had a return on equity of 37.75% and a net margin of 6.70%.The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 earnings per share. On average, equities analysts forecast that Pilgrim’s Pride will post 5.13 EPS for the current year.

Institutional Trading of Pilgrim’s Pride

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Pilgrim’s Pride by 18.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,066 shares of the company’s stock worth $3,154,000 after buying an additional 8,638 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Pilgrim’s Pride by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 3,189 shares of the company’s stock worth $174,000 after purchasing an additional 501 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Pilgrim’s Pride during the 1st quarter valued at approximately $355,000. Range Financial Group LLC raised its position in shares of Pilgrim’s Pride by 26.5% during the second quarter. Range Financial Group LLC now owns 29,027 shares of the company’s stock valued at $1,306,000 after buying an additional 6,073 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of Pilgrim’s Pride by 135.2% during the first quarter. LPL Financial LLC now owns 98,394 shares of the company’s stock worth $5,363,000 after acquiring an additional 56,568 shares during the last quarter. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Company Profile

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.