Pilgrim's Pride (NASDAQ:PPC) Upgraded at Wall Street Zen

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

Other research analysts also recently issued reports about the company. BMO Capital Markets upped their price target on Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a report on Monday, March 17th. Santander started coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They issued a "neutral" rating for the company. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Pilgrim's Pride currently has a consensus rating of "Hold" and a consensus target price of $48.40.

Pilgrim's Pride Stock Down 1.0%

Pilgrim's Pride stock traded down $0.46 during trading hours on Friday, hitting $45.44. The stock had a trading volume of 1,824,879 shares, compared to its average volume of 1,226,941. The stock's 50-day moving average price is $49.08 and its 200-day moving average price is $49.47. The stock has a market capitalization of $10.77 billion, a P/E ratio of 8.96 and a beta of 0.48. Pilgrim's Pride has a 12-month low of $36.52 and a 12-month high of $57.16. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.02.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. Pilgrim's Pride had a net margin of 6.72% and a return on equity of 36.95%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Pilgrim's Pride will post 5.13 EPS for the current fiscal year.

Institutional Trading of Pilgrim's Pride

A number of hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in shares of Pilgrim's Pride by 309.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company's stock valued at $35,000 after purchasing an additional 492 shares during the period. Accredited Wealth Management LLC bought a new stake in Pilgrim's Pride during the fourth quarter valued at approximately $41,000. Quarry LP purchased a new stake in Pilgrim's Pride during the first quarter valued at approximately $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pilgrim's Pride in the fourth quarter worth approximately $55,000. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Pilgrim's Pride during the 1st quarter worth $74,000. Hedge funds and other institutional investors own 16.64% of the company's stock.

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.