Pilgrim's Pride (PPC) closed at $46.12 in the latest trading session, marking a +1.34% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.97%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.45%.

Heading into today, shares of the poultry producer had gained 0.86% over the past month, outpacing the Consumer Staples sector's loss of 3.52% and lagging the S&P 500's gain of 5.41% in that time.

The investment community will be closely monitoring the performance of Pilgrim's Pride in its forthcoming earnings report. In that report, analysts expect Pilgrim's Pride to post earnings of $1.28 per share. This would mark year-over-year growth of 120.69%.

Investors should also note any recent changes to 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Pilgrim's Pride boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Pilgrim's Pride is presently being traded at a Forward P/E ratio of 9.5. Its industry sports an average Forward P/E of 17.26, so one might conclude that Pilgrim's Pride is trading at a discount comparatively.

We can also see that PPC currently has a PEG ratio of 0.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Food - Meat Products industry had an average PEG ratio of 0.34.

The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.