Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Analysts have set a 1 year consensus price target of $62.00 for the company and are forecasting that the company will post $0.74 earnings per share for the current quarter, according to Zacks. Zacks has also given Industrias Bachoco an industry rank of 165 out of 255 based on the ratings given to related companies.
A number of brokerages recently issued reports on IBA. Zacks Investment Research raised shares of Industrias Bachoco from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. ValuEngine cut shares of Industrias Bachoco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 19th.
NYSE IBA traded down $1.20 during trading hours on Monday, reaching $49.98. 9,100 shares of the company’s stock traded hands, compared to its average volume of 8,332. Industrias Bachoco has a 52-week low of $37.66 and a 52-week high of $57.00. The firm has a market cap of $2.56 billion, a PE ratio of 14.32 and a beta of 0.44. The firm has a 50-day simple moving average of $51.71 and a 200 day simple moving average of $52.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.72 and a quick ratio of 2.88.
Industrias Bachoco (NYSE:IBA) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.13. Industrias Bachoco had a net margin of 6.15% and a return on equity of 9.70%. The company had revenue of $776.50 million during the quarter, compared to analysts’ expectations of $788.92 million. Sell-side analysts forecast that Industrias Bachoco will post 3.86 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of IBA. Sarasin & Partners LLP lifted its position in Industrias Bachoco by 15.8% during the 2nd quarter. Sarasin & Partners LLP now owns 220,000 shares of the company’s stock valued at $11,147,000 after acquiring an additional 30,000 shares during the period. Quattro Financial Advisors LLC bought a new stake in Industrias Bachoco during the 2nd quarter valued at about $306,000. Aperio Group LLC increased its stake in Industrias Bachoco by 11.4% during the 2nd quarter. Aperio Group LLC now owns 16,611 shares of the company’s stock valued at $842,000 after purchasing an additional 1,697 shares in the last quarter. Sagil Capital LLP increased its stake in Industrias Bachoco by 19.6% during the 2nd quarter. Sagil Capital LLP now owns 34,934 shares of the company’s stock valued at $1,770,000 after purchasing an additional 5,737 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Industrias Bachoco by 0.5% during the 2nd quarter. Renaissance Technologies LLC now owns 633,200 shares of the company’s stock valued at $32,084,000 after purchasing an additional 3,300 shares in the last quarter. 3.44% of the stock is owned by institutional investors.
About Industrias Bachoco
Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. The company operates in two segment, Poultry and Others It is primarily involved in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products.
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