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Here's Why Pilgrim's Pride (PPC) is a Strong Momentum Stock

Zacks Equity Research
·2 分鐘文章

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Pilgrim's Pride (PPC)

Pilgrim's Pride Corporation is focusing on strengthening its Prepared Foods category. The category grew in the United States during the fourth quarter of 2019 on continued investments in R&D and sales as well as marketing of new product innovations. Also, the company has been increasing its product mix for organic category, including No-Antibiotics-Ever products, to cater customers' evolving tastes.

PPC boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of Pilgrim's Pride has seen some interesting price action recently; the stock is up 0.5% over the past one week and up 5% over the past four weeks. And in the last one-year period, PPC has gained 52.5%. As for the stock's trading volume, 543,319.06 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.52 to $3.01 per share. PPC boasts an average earnings surprise of 252.8%.

PPC should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research