Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price objective of $68.00 for the company and are expecting that the company will post $0.81 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Industrias Bachoco an industry rank of 250 out of 255 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered Industrias Bachoco from a “buy” rating to a “hold” rating in a report on Thursday, August 9th.
IBA opened at $57.90 on Wednesday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 11.74 and a beta of 0.24. Industrias Bachoco has a 52 week low of $53.00 and a 52 week high of $67.61. The company has a current ratio of 3.29, a quick ratio of 2.52 and a debt-to-equity ratio of 0.04.
Industrias Bachoco (NYSE:IBA) last released its quarterly earnings results on Monday, July 23rd. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.06). The firm had revenue of $815.90 million for the quarter, compared to analyst estimates of $740.25 million. Industrias Bachoco had a return on equity of 14.54% and a net margin of 8.69%. equities analysts predict that Industrias Bachoco will post 4.45 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in IBA. Russell Investments Group Ltd. raised its holdings in Industrias Bachoco by 388.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,989 shares of the company’s stock valued at $174,000 after acquiring an additional 2,377 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Industrias Bachoco in the 1st quarter valued at about $223,000. Deutsche Bank AG bought a new position in Industrias Bachoco in the 4th quarter valued at about $235,000. Everett Harris & Co. CA raised its holdings in Industrias Bachoco by 1.1% in the 2nd quarter. Everett Harris & Co. CA now owns 99,717 shares of the company’s stock valued at $5,759,000 after acquiring an additional 1,124 shares during the period. Finally, Sarasin & Partners LLP raised its holdings in Industrias Bachoco by 5.3% in the 1st quarter. Sarasin & Partners LLP now owns 100,000 shares of the company’s stock valued at $6,195,000 after acquiring an additional 5,000 shares during the period. 4.74% of the stock is currently owned by institutional investors and hedge funds.
About Industrias Bachoco
Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. It primarily engages in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products. The company also produces and distributes chicken, turkey, and beef value-added products, as well as medicines and vaccines for animal consumption; provides administrative and operating services; and elaborates and commercializes balanced animal feed and pet treats.
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