Fresh and cooked chicken giant Pilgrim's Pride continues to put up outstanding earnings numbers, including a 124% jump in EPS last quarter. On Monday, Pilgrim's Pride stock joined an elite group of stocks as its Relative Strength Rating climbed to 83.
The new 83 RS Rating means that Pilgrim's Pride stock has outperformed 83% of all stocks, regardless of industry, on price performance over the past year. Over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 as they launch their biggest climbs.
Pilgrim's Pride Stock Sought By Big Money Investors
Greeley, Colo.-based Pilgrim's Pride says on its website that it sells nearly one in five of all chickens sold in the U.S. It also sells in Mexico and Puerto Rico. It has a bullish B+ Accumulation/Distribution Rating, pointing to strong accumulation by big money investors such as mutual funds and ETFs. And it boasts an 88 Composite Rating, putting it in the top 12% of stocks overall.
One yellow flag is its 58 EPS Rating, which gauges recent and long-term profit growth. However, Pilgrim's Pride has posted triple-digit EPS growth in three of the last four quarters so look for that number to improve. Its stock is up about 36% in the past six weeks. It edged up fractionally Monday afternoon, to 27.41.
Earnings grew 124% last quarter to 56 cents per share. The prior three periods Pilgrims Pride saw earnings grow 100%, 1,000%+ and 2%. Revenue growth also increased sequentially last quarter, from 24% to 30%, or $4.04 billion. The food company plans to announce its first quarter earnings results after the market closes on April 28.
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Pilgrims Pride stock is working on a consolidation with a 29.80 buy point. See if it can clear the breakout price in heavy trade.
Pilgrims Pride stock holds the No. 5 rank among its peers in the Food-Meat Products industry group. Cal-Maine Foods and Hormel Foods are also among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily identifies share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
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