Pilgrims Pride Corporation (PPC): Price Target and June Short Interest Disclosure

Pilgrims Pride Corporation (PPC) : The highest short term price target forecast on Pilgrims Pride Corporation (PPC) is $30 and the lowest target price is $23. A total of 3 equity analysts are currently covering the company. The average price of all the analysts is $26.67 with a standard deviation of $3.51.

Pilgrims Pride Corporation (PPC) has seen a shortfall of 1,703,711 shares or 8.1% in the short interest. The remaining shorts are 32.7% of the total floated shares. The net short interest, as on June 30,2016, stood at 19,292,012 shares and the stocks days to cover will be 17 by factoring in the average per day volume of 1,163,600 shares. On June 15,2016, 20,995,723 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, In a research note released to the investors, BMO Capital downgrades its rating on Pilgrims Pride Corporation (NASDAQ:PPC).The analysts at the brokerage house have a current rating of Market Perform on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on June 6, 2016.


Pilgrims Pride Corporation (NASDAQ:PPC): stock turned positive on Thursday. Though the stock opened at $25.19, the bulls momentum made the stock top out at $25.71 level for the day. The stock recorded a low of $25.09 and closed the trading day at $25.31, in the green by 0.64%. The total traded volume for the day was 2,332,920. The stock had closed at $25.15 in the previous days trading.

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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