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

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In the latest trading session, Pilgrim's Pride (PPC) closed at $31.74, marking a +1.15% move from the previous day. This change outpaced the S&P 500's 0.07% loss on the day. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.02%.

Coming into today, shares of the poultry producer had lost 5.82% in the past month. In that same time, the Consumer Staples sector lost 3.17%, while the S&P 500 lost 7.99%.

Wall Street will be looking for positivity from Pilgrim's Pride as it approaches its next earnings report date. In that report, analysts expect Pilgrim's Pride to post earnings of $1.17 per share. This would mark year-over-year growth of 85.71%.

Any recent changes to analyst estimates for Pilgrim's Pride should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 14.29% higher. Pilgrim's Pride is holding a Zacks Rank of #2 (Buy) right now.

In terms of valuation, Pilgrim's Pride is currently trading at a Forward P/E ratio of 8.44. This represents a discount compared to its industry's average Forward P/E of 9.37.

Meanwhile, PPC's PEG ratio is currently 0.57. 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. The Food - Meat Products was holding an average PEG ratio of 1.25 at yesterday's closing price.

The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 31, putting 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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