Pilgrim's Pride Corp (PPC)

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Zacks Investment Research Analysts Upgrade Pilgrims Pride Corp (PPC) Shares to “Neutral”

July 7th, 2011 • 0 comments • Filed Under • by ABMN Staff

Zacks Investment Research upgraded shares of Pilgrims Pride Corp (NYSE: PPC) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday.

Shares of Pilgrims Pride Corp opened at 5.02 on Thursday. Pilgrims Pride Corp has a 52 week low of $4.61 and a 52 week high of $8.61. The stock’s 50-day moving average is $4.86 and its 200-day moving average is $6.5. The company has a market cap of $1.077 billion and a price-to-earnings ratio of 82.17.

Pilgrims Pride Corp last announced its quarterly results on Friday, April 29th. The company reported ($0.56) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.22) EPS by $0.34. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was up 15.20% on a year-over-year basis. On average, analysts predict that Pilgrims Pride Corp will post $-0.09 EPS next quarter.

Pilgrim’s Pride Corporation (Pilgrim’s Pride) is a chicken company in the United States, Mexico and Puerto Rico. The Company’s prepared chicken products meet the needs of some of the customers in the food service industry across the United States. Under the Pilgrim’s Pride brand name, its fresh chicken retail line is sold in the southeastern, central, southwestern and western regions of the United States, throughout Puerto Rico, and in the northern and central regions of Mexico. Additionally, it exports commodity chicken products to 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 14 United States of America states, Puerto Rico and Mexico. In December 2009, Pilgrim’s Pride announced that the Company and six of its subsidiaries have emerged from Chapter 11 bankruptcy protection.

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