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.
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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