Pilgrim's Pride (PPC) Bonds Trading 0.9% Higher
An issue of Pilgrim's Pride Co. (NASDAQ:PPC) debt rose 0.9% against its face value during trading on Tuesday. The debt issue has a 5.875% coupon and will mature on September 30, 2027. The debt is now trading at $98.38 and was trading at $99.63 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
PPC has been the topic of a number of research reports. KeyCorp initiated coverage on Pilgrim's Pride in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. BidaskClub upgraded Pilgrim's Pride from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Morgan Stanley raised their price target on Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th. ValuEngine downgraded Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Finally, BMO Capital Markets raised their price target on Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.50.
Pilgrim's Pride Co. (NASDAQ PPC) traded down $0.16 during trading hours on Tuesday, reaching $25.14. The company had a trading volume of 690,739 shares, compared to its average volume of 1,342,340. The stock has a market cap of $6,273.54, a P/E ratio of 9.94 and a beta of 0.03. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49. Pilgrim's Pride Co. has a 12-month low of $20.20 and a 12-month high of $38.39.
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.
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