Stock analysts at BMO Capital Markets cut their price target on shares of Pilgrim’s Pride Corp. (NYSE:PPC) from $21.00 to $19.00 in a report issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 21.33% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Stephens downgraded shares of Pilgrim’s Pride Corp. (NYSE:PPC) from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, August 15th. They now have a $20.00 price target on the stock, down previously from $23.00. Analysts at Ativo Research downgraded shares of Pilgrim’s Pride Corp. (NYSE:PPC) from an “unfavorable” rating to a “most unfavorable” rating in a research note to investors on Saturday, June 22nd.
Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Pilgrim’s Pride Corp. has an average rating of “Hold” and a consensus target price of $13.50.
Shares of Pilgrim’s Pride Corp. (NYSE:PPC) traded down 1.76% on Thursday, hitting $15.66. 689,681 shares of the company’s stock traded hands. Pilgrim’s Pride Corp. has a 52-week low of $4.20 and a 52-week high of $19.23. The stock has a 50-day moving average of $16.75 and a 200-day moving average of $12.69. The company has a market cap of $4.056 billion and a price-to-earnings ratio of 13.27.
Pilgrim’s Pride Corp. (NYSE:PPC) last released its earnings data on Thursday, August 1st. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.17. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Pilgrim’s Pride Corp. will post $2.21 earnings per share for the current fiscal year.
Pilgrim’s Pride Corp (NYSE:PPC) is a chicken producer with operations in the United States, Mexico and Puerto Rico.