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Pilgrim's Pride (PPC) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Pilgrim's Pride (PPC) closed at $29.34, marking a -0.03% move from the previous day. This change lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.2%.

Prior to today's trading, shares of the poultry producer had gained 0.1% over the past month. This has outpaced the Consumer Staples sector's loss of 9.3% and the S&P 500's loss of 8.32% in that time.

Wall Street will be looking for positivity from Pilgrim's Pride as it approaches its next earnings report date. On that day, Pilgrim's Pride is projected to report earnings of $1.17 per share, which would represent year-over-year growth of 85.71%.

Investors might also notice recent changes to analyst estimates for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 14.29% higher within the past month. Pilgrim's Pride is holding a Zacks Rank of #1 (Strong Buy) right now.

Investors should also note Pilgrim's Pride's current valuation metrics, including its Forward P/E ratio of 7.89. This valuation marks a discount compared to its industry's average Forward P/E of 8.96.

It is also worth noting that PPC currently has a PEG ratio of 0.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PPC's industry had an average PEG ratio of 1.21 as of yesterday's close.

The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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