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

Pilgrim’s Pride (NASDAQ:PPC) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

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

Pilgrim’s Pride Price Performance

Shares of NASDAQ PPC opened at $53.88 on Friday. The stock’s 50-day simple moving average is $47.45 and its two-hundred day simple moving average is $46.87. Pilgrim’s Pride has a twelve month low of $27.99 and a twelve month high of $57.16. The firm has a market capitalization of $12.78 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.20 and a beta of 0.82. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75.

Institutional Trading of Pilgrim’s Pride

Several institutional investors have recently added to or reduced their stakes in PPC. Harbor Capital Advisors Inc. bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in Pilgrim’s Pride in the third quarter valued at approximately $34,000. Quarry LP boosted its stake in shares of Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares during the period. R Squared Ltd bought a new position in shares of Pilgrim’s Pride in the fourth quarter worth approximately $59,000. Finally, Castleview Partners LLC purchased a new position in shares of Pilgrim’s Pride in the third quarter worth $86,000. 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.