Pilgrim’s Pride (NASDAQ:PPC) Upgraded at StockNews.com

StockNews.com upgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from a buy rating to a strong-buy rating in a research note published on Saturday.

Other research analysts have also issued reports about the company. BMO Capital Markets increased their price objective on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Barclays raised their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Trading Up 1.6 %

Shares of Pilgrim’s Pride stock opened at $54.00 on Friday. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 11.84 and a beta of 0.82. Pilgrim’s Pride has a fifty-two week low of $30.00 and a fifty-two week high of $57.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The stock has a 50 day moving average of $47.85 and a 200 day moving average of $47.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at $293,000. Invst LLC acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at $508,000. Neo Ivy Capital Management raised its stake in shares of Pilgrim’s Pride by 175.3% in the fourth quarter. Neo Ivy Capital Management now owns 57,387 shares of the company’s stock valued at $2,604,000 after acquiring an additional 36,545 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at $240,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at $298,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

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.