Pilgrim’s Pride (NASDAQ:PPC) Lowered to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from a strong-buy rating to a buy rating in a report issued on Friday morning.

PPC has been the topic of several other reports. BMO Capital Markets lifted their price target on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Barclays lifted their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pilgrim’s Pride has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Trading Up 3.5 %

PPC stock opened at $53.88 on Friday. The company has a market capitalization of $12.78 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. Pilgrim’s Pride has a one year low of $27.99 and a one year high of $57.16. The company’s 50 day moving average price is $47.45 and its two-hundred day moving average price is $46.83. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95.

Institutional Trading of Pilgrim’s Pride

Large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new stake in Pilgrim’s Pride in the third quarter valued at $27,000. Raleigh Capital Management Inc. bought a new stake in Pilgrim’s Pride in the third quarter valued at $34,000. Quarry LP boosted its holdings in Pilgrim’s Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after acquiring an additional 707 shares in the last quarter. R Squared Ltd bought a new stake in Pilgrim’s Pride in the fourth quarter valued at $59,000. Finally, Castleview Partners LLC bought a new stake in Pilgrim’s Pride in the third quarter valued at $86,000. Institutional investors own 16.64% of the company’s stock.

About Pilgrim’s Pride

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.