In the latest market close, Pilgrim's Pride (PPC) reached $50.27, with a -1.64% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.91%. Elsewhere, the Dow saw a downswing of 1.5%, while the tech-heavy Nasdaq depreciated by 1.96%.

Shares of the poultry producer have appreciated by 1.55% over the course of the past month, underperforming the Consumer Staples sector's gain of 3.05% and outperforming the S&P 500's loss of 7.38%.

Analysts and investors alike will be keeping a close eye on the performance of Pilgrim's Pride in its upcoming earnings disclosure. On that day, Pilgrim's Pride is projected to report earnings of $1.27 per share, which would represent year-over-year growth of 64.94%.

Investors should also pay attention to any latest changes in analyst estimates for Pilgrim's Pride. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.

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 has moved 3.02% higher within the past month. Currently, Pilgrim's Pride is carrying a Zacks Rank of #1 (Strong Buy).

Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 9.68. This expresses a discount compared to the average Forward P/E of 12.69 of its industry.

The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 10, positioning it in the top 4% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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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Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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