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

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

Other research analysts have also recently issued reports about the stock. Barclays lifted 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 note on Friday, November 1st. BMO Capital Markets lifted their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Price Performance

PPC stock opened at $53.13 on Friday. The company’s 50-day moving average price is $47.80 and its two-hundred day moving average price is $47.25. The firm has a market cap of $12.60 billion, a P/E ratio of 11.65 and a beta of 0.82. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride has a 12 month low of $28.49 and a 12 month high of $57.16.

Institutional Trading of Pilgrim’s Pride

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in shares of Pilgrim’s Pride by 19.1% in the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $96,000 after acquiring an additional 334 shares during the last quarter. Blue Trust Inc. raised its position in Pilgrim’s Pride by 34.8% in the third quarter. Blue Trust Inc. now owns 3,197 shares of the company’s stock valued at $147,000 after purchasing an additional 825 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Pilgrim’s Pride by 4,505.0% during the third quarter. International Assets Investment Management LLC now owns 74,693 shares of the company’s stock valued at $3,440,000 after purchasing an additional 73,071 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Pilgrim’s Pride during the third quarter worth about $274,000. Finally, Highland Capital Management LLC increased its stake in shares of Pilgrim’s Pride by 459.8% in the third quarter. Highland Capital Management LLC now owns 33,244 shares of the company’s stock valued at $1,531,000 after buying an additional 27,305 shares during the period. Institutional investors and hedge funds 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.