Pilgrim’s Pride (NASDAQ:PPC) Price Target Increased to $34.00 by Analysts at Mizuho

Pilgrim’s Pride (NASDAQ:PPC) had its target price lifted by Mizuho from $30.00 to $34.00 in a report issued on Friday morning, The Fly reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on PPC. Cleveland Research upgraded Pilgrim’s Pride from a neutral rating to a buy rating in a research report on Wednesday, May 22nd. Zacks Investment Research upgraded Pilgrim’s Pride from a sell rating to a hold rating in a report on Tuesday, April 16th. Barclays restated a buy rating on shares of Pilgrim’s Pride in a report on Sunday, May 5th. BMO Capital Markets increased their target price on Pilgrim’s Pride to $31.00 and gave the stock an in-line rating in a report on Friday, May 3rd. They noted that the move was a valuation call. Finally, ValuEngine upgraded Pilgrim’s Pride from a hold rating to a buy rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Pilgrim’s Pride currently has a consensus rating of Buy and an average price target of $25.94.

NASDAQ:PPC traded down $0.47 during trading hours on Friday, reaching $28.83. The company had a trading volume of 11,739 shares, compared to its average volume of 756,402. The business has a 50-day simple moving average of $26.38. Pilgrim’s Pride has a one year low of $14.83 and a one year high of $29.73. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 22.52 and a beta of 0.80. The company has a quick ratio of 0.83, a current ratio of 1.68 and a debt-to-equity ratio of 1.19.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. Pilgrim’s Pride had a return on equity of 14.13% and a net margin of 1.95%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Pilgrim’s Pride will post 1.83 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in PPC. Destination Wealth Management acquired a new position in shares of Pilgrim’s Pride during the second quarter valued at $53,000. New York State Teachers Retirement System acquired a new position in shares of Pilgrim’s Pride during the second quarter valued at $119,000. NEXT Financial Group Inc acquired a new position in shares of Pilgrim’s Pride during the second quarter valued at $176,000. Great West Life Assurance Co. Can acquired a new position in shares of Pilgrim’s Pride during the fourth quarter valued at $107,000. Finally, Nkcfo LLC acquired a new position in shares of Pilgrim’s Pride during the second quarter valued at $203,000. Institutional investors own 18.97% 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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