The Chart of the Day belongs to the major chicken processor Pilgrim's Pride (PPC), states Jim Van Meerten of BarChart.com.
I found the stock using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and a Trend Seeker buy signal. I then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 2/ 15 the stock gained 25.11%.
PPC Price vs Daily Moving Averages
Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and food service operators and is headquartered in Greeley, Colorado. Pilgrim's Pride Corporation operates as a subsidiary of JBS S.A.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 70.421+ Weighted Alpha
- 56.47% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50, and 100-day moving averages
- 12 new highs and up 6.55% in the last month
- Relative Strength Index 66.71%
- Technical support level at $35.59
- Recently traded at $35.79 with a 50-day moving average of $32.67
Fundamental Factors:
- Market Cap $8.48 billion
- P/E 21.04
- Revenue is expected to increase by 4.10% this year and another 2.20% next year
- Earnings are estimated to increase 78.70% this year and an additional 6.00% next year
Analysts and Investor Sentiment: I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts have two strong buy and three hold recommendations in place on the stock
- Analysts price targets are between $34 and $40
- Value Line rated the stock an above-average two
- CFRA's MarketScope Advisor rates the stock a three-star buy with a price target of $40
- MorningStar gives the stock an average three-star rating with a Fair Value estimate of $31
- 8,630 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least every week.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
