Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $40.00 and last traded at $40.34, with a volume of 23663 shares changing hands. The stock had previously closed at $41.03.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Industrias Bachoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. JPMorgan Chase & Co. cut Industrias Bachoco from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. Finally, TheStreet cut Industrias Bachoco from a “b-” rating to a “c” rating in a research report on Wednesday, October 24th.
The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 8.18 and a beta of 0.45.
Industrias Bachoco (NYSE:IBA) last posted its quarterly earnings data on Wednesday, October 24th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Industrias Bachoco had a return on equity of 11.99% and a net margin of 7.35%. The company had revenue of $754.00 million during the quarter, compared to analysts’ expectations of $736.07 million. On average, research analysts predict that Industrias Bachoco, S.A.B. de C.V. will post 3.16 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. Royce & Associates LP lifted its position in Industrias Bachoco by 5.2% during the 2nd quarter. Royce & Associates LP now owns 216,806 shares of the company’s stock worth $12,495,000 after acquiring an additional 10,631 shares during the period. Quattro Financial Advisors LLC acquired a new stake in Industrias Bachoco during the 3rd quarter worth approximately $319,000. Conning Inc. acquired a new stake in Industrias Bachoco during the 3rd quarter worth approximately $410,000. Allianz Asset Management GmbH lifted its position in Industrias Bachoco by 1.4% during the 1st quarter. Allianz Asset Management GmbH now owns 164,564 shares of the company’s stock worth $10,194,000 after acquiring an additional 2,194 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Industrias Bachoco by 388.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,989 shares of the company’s stock worth $174,000 after acquiring an additional 2,377 shares during the period. 3.64% of the stock is owned by institutional investors.
Industrias Bachoco Company Profile (NYSE:IBA)
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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