Pilgrim’s Pride (PPC) PT Raised to $32.00 at Morgan Stanley

Pilgrim’s Pride (NASDAQ:PPC) had its price target boosted by analysts at Morgan Stanley from $30.00 to $32.00 in a note issued to investors on Friday, November 10th. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 11.63% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Vertical Research downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. ValuEngine raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $24.00 price objective on shares of Pilgrim’s Pride in a research report on Friday, August 25th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $25.00 price objective on shares of Pilgrim’s Pride in a research report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $30.20.

Pilgrim’s Pride (NASDAQ PPC) traded up $0.44 during trading hours on Friday, hitting $36.21. 869,300 shares of the company traded hands, compared to its average volume of 1,262,337. Pilgrim’s Pride has a 1-year low of $17.34 and a 1-year high of $36.43. The firm has a market cap of $8,815.79, a price-to-earnings ratio of 13.74 and a beta of 0.21. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.65 and a quick ratio of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.21. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pilgrim’s Pride had a net margin of 7.03% and a return on equity of 53.62%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. equities research analysts forecast that Pilgrim’s Pride will post 2.85 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc boosted its stake in Pilgrim’s Pride by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock valued at $412,000 after purchasing an additional 347 shares during the period. Horrell Capital Management Inc. boosted its stake in Pilgrim’s Pride by 2.5% during the 2nd quarter. Horrell Capital Management Inc. now owns 27,941 shares of the company’s stock valued at $612,000 after purchasing an additional 681 shares during the period. First Midwest Bank Trust Division boosted its stake in Pilgrim’s Pride by 2.4% during the 2nd quarter. First Midwest Bank Trust Division now owns 30,961 shares of the company’s stock valued at $679,000 after purchasing an additional 738 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Pilgrim’s Pride by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after purchasing an additional 798 shares during the period. Finally, Voya Investment Management LLC boosted its stake in Pilgrim’s Pride by 4.3% during the 2nd quarter. Voya Investment Management LLC now owns 19,808 shares of the company’s stock valued at $434,000 after purchasing an additional 813 shares during the period. 24.61% of the stock is owned by hedge funds and other institutional investors.

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Pilgrim’s Pride 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 (NASDAQ:PPC)

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