Why the high growth investor may take a look at PILGRIM'S PRIDE CORP (NASDAQ:PPC).

Our stockscreener has identified a possible breakout setup on PILGRIM'S PRIDE CORP (NASDAQ:PPC). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:PPC for potential opportunities.

What is the technical picture of NASDAQ:PPC telling us.

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Overall PPC gets a technical rating of 10 out of 10. Both in the recent history as in the last year, PPC has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, PPC did better than 91% of all other stocks. We also observe that the gains produced by PPC over the past year are nicely spread over this period.
• PPC is one of the better performing stocks in the Food Products industry, it outperforms 85% of 92 stocks in the same industry.
• PPC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PPC is lagging the market slightly.
• In the last month PPC has a been trading in the 43.40 - 49.07 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of PPC

How does the Setup look for NASDAQ:PPC

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NASDAQ:PPC exhibits a 7 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, PPC also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 45.58, a Stop Loss order could be placed below this zone.

Some of the high growth metrics of NASDAQ:PPC highlighted

• In the most recent financial report, PILGRIM'S PRIDE CORP reported a 280.0% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
• Analysts' average next Quarter EPS Estimate for PILGRIM'S PRIDE CORP has witnessed a 30.6% change in the last 3 months, underscoring the dynamic nature of market sentiment towards the company's EPS prospects.
• The recent financial report of PILGRIM'S PRIDE CORP demonstrates a 280.0% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• The earnings per share (EPS) growth of PILGRIM'S PRIDE CORP are accelerating: the current Q2Q growth of 280.0% is above the previous year Q2Q growth of -71.43%. Earnings momentum and acceleration are key for high growth systems.
• PILGRIM'S PRIDE CORP has experienced notable growth in its operating margin over the past year, reflecting improved operational performance. This growth suggests the company's ability to generate higher profits from its core business activities.
• PILGRIM'S PRIDE CORP has experienced notable growth in its free cash flow (FCF) over the past year, signaling improved cash generation and strong financial performance. This growth suggests the company's ability to generate excess cash for reinvestment or shareholder returns.
• With a favorable Return on Equity (ROE) of 20.28%, PILGRIM'S PRIDE CORP demonstrates its ability to deliver attractive returns for shareholders. This metric highlights the company's effective management of assets and its profitability.
• With a current Debt-to-Equity ratio at 0.85, PILGRIM'S PRIDE CORP showcases its disciplined capital structure. The company's prudent management of debt obligations contributes to its financial stability and long-term sustainability.
• The ownership composition of PILGRIM'S PRIDE CORP reflects a balanced investor ecosystem, with institutional shareholders owning 16.39%. This indicates a broader market participation and potential for increased trading liquidity.
• With a track record of beating EPS estimates in the last 4 quarters, PILGRIM'S PRIDE CORP showcases its consistent ability to deliver earnings surprises. This reflects the company's strong execution and its competitive position in the market.
• The Relative Strength (RS) of PILGRIM'S PRIDE CORP has consistently been strong, with a current 91.51 rating. This indicates the stock's ability to exhibit relative price outperformance and reflects its competitive strength. PILGRIM'S PRIDE CORP demonstrates promising potential for sustained price momentum.

More high growth momentum breakout stocks can be found in our High Growth Momentum Breakout screen.

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.