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In a report released yesterday, Akshay Jagdale from Jefferies maintained a Hold rating on Pilgrim’s Pride (NASDAQ: PPC), with a price target of $28. The company’s shares closed yesterday at $21.54, close to its 52-week low of $20.23.
Jagdale commented:
“1Q18 operating results were slightly (1%) below consensus but 5% above our estimate. Relative to our estimate, EBIT was $9M (5%) higher driven by a $30M (128%) beat in Mexico partially offset by a $15M (11%) miss in the US and $6M (20%) miss in Europe. Weak US segment results support our industry thesis of an oversupply.”
According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 5.2% and a 53.6% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and J & J Snack Foods.
Pilgrim’s Pride has an analyst consensus of Moderate Buy, with a price target consensus of $29.
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Pilgrim’s Pride’s market cap is currently $5.36B and has a P/E ratio of 7.72. The company has a Price to Book ratio of 2.90.
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Pilgrim’s Pride Corp. engages in the production, processing, marketing and distribution of fresh, frozen, and value-added chicken products to retailers, distributors and foodservice operators. It operates through the following segments: U.S., U.K. & Europe, and Mexico.
