Cleveland Research upgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from a neutral rating to a buy rating in a research note published on Wednesday, The Fly reports.

Several other brokerages also recently issued reports on PPC. Zacks Investment Research upgraded shares of Pilgrim’s Pride from a sell rating to a hold rating in a research note on Tuesday, April 16th. Barclays reiterated a buy rating on shares of Pilgrim’s Pride in a research note on Sunday, May 5th. BidaskClub upgraded shares of Pilgrim’s Pride from a buy rating to a strong-buy rating in a research note on Friday, April 19th. Jefferies Financial Group reiterated a hold rating and set a $19.00 price target on shares of Pilgrim’s Pride in a research note on Sunday, February 17th. Finally, ValuEngine upgraded shares of Pilgrim’s Pride from a hold rating to a buy rating in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $24.46.

Shares of Pilgrim’s Pride stock opened at $27.99 on Wednesday. The firm has a market capitalization of $6.83 billion, a PE ratio of 21.87 and a beta of 0.90. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.83 and a current ratio of 1.68. Pilgrim’s Pride has a 1 year low of $14.83 and a 1 year high of $29.32.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. Pilgrim’s Pride had a net margin of 1.95% and a return on equity of 14.13%. Pilgrim’s Pride’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. On average, sell-side analysts anticipate that Pilgrim’s Pride will post 1.65 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of PPC. JPMorgan Chase & Co. boosted its stake in Pilgrim’s Pride by 12.6% during the third quarter. JPMorgan Chase & Co. now owns 2,917,939 shares of the company’s stock worth $52,785,000 after buying an additional 327,140 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Pilgrim’s Pride by 12.4% during the third quarter. Morgan Stanley now owns 435,365 shares of the company’s stock valued at $7,876,000 after acquiring an additional 48,169 shares during the period. Bank of Montreal Can lifted its holdings in shares of Pilgrim’s Pride by 153.5% during the fourth quarter. Bank of Montreal Can now owns 40,814 shares of the company’s stock valued at $633,000 after acquiring an additional 24,711 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Pilgrim’s Pride during the fourth quarter valued at $1,767,000. Finally, First Quadrant L P CA bought a new position in shares of Pilgrim’s Pride during the fourth quarter valued at $216,000. Hedge funds and other institutional investors own 18.29% of the company’s stock.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Analyst Recommendations for Pilgrim`s Pride (NASDAQ:PPC)

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