Pilgrim's Pride (PPC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Pilgrim's Pride (PPC) closed at $31.21, marking a -0.83% move from the previous day. This change lagged the S&P 500's daily gain of 0.16%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.48%.
Prior to today's trading, shares of the poultry producer had lost 2.24% over the past month. This has lagged the Consumer Staples sector's loss of 0.69% and was narrower than the S&P 500's loss of 6.79% in that time.
Wall Street will be looking for positivity from Pilgrim's Pride as it approaches its next earnings report date. The company is expected to report EPS of $1.17, up 85.71% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Pilgrim's Pride. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Pilgrim's Pride currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 8.46. Its industry sports an average Forward P/E of 9.33, so we one might conclude that Pilgrim's Pride is trading at a discount comparatively.
Meanwhile, PPC's PEG ratio is currently 0.57. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Food - Meat Products industry currently had an average PEG ratio of 1.25 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 32, which puts it in the top 13% 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.
To follow PPC in the coming trading sessions, be sure to utilize Zacks.com.
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