Price Action to Note: How Analysts Feel About Pilgrim’s Pride Corporation After Making 1 Year Low?

Price Action to Note: How Analysts Feel About Pilgrim's Pride Corporation After Making 1 Year Low?

The stock of Pilgrim’s Pride Corporation (NASDAQ:PPC) hit a new 52-week low and has $17.47 target or 6.00% below today’s $18.58 share price. The 5 months bearish chart indicates high risk for the $4.48B company. The 1-year low was reported on Nov, 11 by Barchart.com. If the $17.47 price target is reached, the company will be worth $268.80M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 202,726 shares traded hands. Pilgrim’s Pride Corporation (NASDAQ:PPC) has declined 25.64% since April 11, 2016 and is downtrending. It has underperformed by 31.79% the S&P500.

Pilgrim’s Pride Corporation (NASDAQ:PPC) Ratings Coverage

Out of 3 analysts covering Pilgrims Pride (NASDAQ:PPC), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. $24 is the highest target while $21 is the lowest. The $22.67 average target is 22.01% above today’s ($18.58) stock price. Pilgrims Pride has been the topic of 6 analyst reports since October 30, 2015 according to StockzIntelligence Inc. Jefferies initiated the shares of PPC in a report on Wednesday, December 16 with “Hold” rating. The rating was upgraded by BMO Capital Markets on Friday, October 30 to “Outperform”. BB&T Capital downgraded the shares of PPC in a report on Wednesday, May 25 to “Hold” rating. BB&T Capital upgraded Pilgrim’s Pride Corporation (NASDAQ:PPC) on Wednesday, November 4 to “Buy” rating. Jefferies maintained the shares of PPC in a report on Wednesday, October 12 with “Hold” rating. The stock of Pilgrim’s Pride Corporation (NASDAQ:PPC) has “Market Perform” rating given on Monday, June 6 by BMO Capital Markets.

According to Zacks Investment Research, “Pilgrim’s Pride is one of the largest chicken companies in the US, Mexico and Puerto Rico. The company’s fresh chicken retail line is sold throughout the US, throughout Puerto Rico, and in the northern and central regions of Mexico. Its prepared chicken products meet the needs of some of the largest customers in the food service industry across the US. Additionally, the Company exports commodity chicken products to over 90 countries. As a vertically integrated company, it controls every phase of the production of its products. The company operates feed mills, hatcheries, processing plants and distribution centers in US, Puerto Rico and Mexico.”

Insitutional Activity: The institutional sentiment increased to 1.15 in Q2 2016. Its up 0.56, from 0.59 in 2016Q1. The ratio improved, as 28 funds sold all Pilgrim’s Pride Corporation shares owned while 70 reduced positions. 41 funds bought stakes while 72 increased positions. They now own 66.15 million shares or 3.48% less from 68.53 million shares in 2016Q1.
Credit Suisse Ag holds 190,173 shares or 0.01% of its portfolio. Fdx Advsrs Inc has 24,007 shares for 0.03% of their US portfolio. Victory Mngmt Inc reported 25,466 shares or 0% of all its holdings. Indexiq Ltd Llc accumulated 0.03% or 21,742 shares. Bridgeway Capital Mngmt holds 0.46% or 1.15M shares in its portfolio. Independent Consultants last reported 0.01% of its portfolio in the stock. Da Davidson last reported 0% of its portfolio in the stock. Chicago Equity Prns Ltd Company accumulated 45,980 shares or 0.03% of the stock. Fort Limited Partnership holds 29,725 shares or 0.31% of its portfolio. Massachusetts Serv Ma accumulated 694,611 shares or 0.01% of the stock. The Pennsylvania-based Susquehanna Group Llp has invested 0% in Pilgrim’s Pride Corporation (NASDAQ:PPC). Ladenburg Thalmann Svcs reported 2,812 shares or 0% of all its holdings. Ubs Asset Mgmt Americas owns 23,700 shares or 0% of their US portfolio. The Indiana-based Old Natl Bank In has invested 0.03% in Pilgrim’s Pride Corporation (NASDAQ:PPC). Commercial Bank Of New York Mellon reported 511,984 shares or 0% of all its holdings.

More important recent Pilgrim’s Pride Corporation (NASDAQ:PPC) news were published by: Prnewswire.com which released: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Pilgrim’s Pride …” on October 31, 2016, also Businesswire.com published article titled: “Rosen Law Firm Reminds Pilgrim’s Pride Corporation Investors of Important …”, Prnewswire.com published: “SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on …” on October 28, 2016. More interesting news about Pilgrim’s Pride Corporation (NASDAQ:PPC) was released by: Prnewswire.com and their article: “SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered …” with publication date: October 28, 2016.

PPC Company Profile

Pilgrim’s Pride Corporation (Pilgrim’s), incorporated on September 11, 1986, is a retail food store. The Firm is a producer and seller of chicken products with activities in the United States, Mexico and Puerto Rico. The Firm is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators. Pilgrim’s offers a range of products to its clients through various distribution channels. Pilgrim’s fresh chicken products include refrigerated (non-frozen) whole chickens, whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. The Company’s prepared chicken products include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, some of, which are either breaded or non-breaded and either marinated or non-marinated.

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