Pilgrims Pride Corporation (PPC) : Analyst Rating Update

Pilgrims Pride Corporation (PPC) : 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Pilgrims Pride Corporation (PPC). Zacks Investment Research suggests a Strong Sell with a rank of 5.The median of all the 3 Wall Street Analysts endorse the stock as a Hold with a rating of 3.

Pilgrims Pride Corporation (PPC) has been rated by 3 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $30 and the lowest price target forecast is $23. The average forecast of all the analysts is $26.67 and the expected standard deviation is $3.51.

Pilgrims Pride Corporation (NASDAQ:PPC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.55 and $24.47 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $25.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $25.33, notching a gain of 3.47% for the day. The total traded volume was 2,583,893 . The stock had closed at $24.48 on the previous day.

Also, BMO Capital downgrades their rating on the shares of Pilgrims Pride Corporation (NASDAQ:PPC). The current rating of the shares is Market Perform. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on June 6, 2016. The company shares have rallied 9.04% from its 1 Year high price. On May 2, 2016, the shares registered one year high at $27.79 and the one year low was seen on Oct 29, 2015. The 50-Day Moving Average price is $24.80 and the 200 Day Moving Average price is recorded at $24.09.

Pilgrims Pride Corporation (Pilgrims) is a producer of Chicken products. The Company is a producer and seller of chicken products with operations in the United States, Mexico and Puerto Rico. The Company is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators. Its fresh chicken products include refrigerated (non-frozen) whole chickens, whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. Its prepared chicken products include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties. The Company focuses on foodservice industry, principally chain restaurants and food processors, such as Chick-fil-A and Yum! Brands; distributors, such as US Foods and Sysco and retail customers, including grocery store chains, and wholesale clubs, such as Kroger, Wal-Mart, Costco, Publix and Sams Club.

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