Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokerages have set a one year consensus price objective of $63.00 for the company and are anticipating that the company will post $1.00 EPS for the current quarter, according to Zacks. Zacks has also assigned Industrias Bachoco an industry rank of 21 out of 256 based on the ratings given to related companies.
IBA has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Industrias Bachoco from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Thursday. ValuEngine cut Industrias Bachoco from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. TheStreet upgraded Industrias Bachoco from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upgraded Industrias Bachoco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 14th.
Large investors have recently made changes to their positions in the company. Everett Harris & Co. CA raised its stake in shares of Industrias Bachoco by 6.8% in the first quarter. Everett Harris & Co. CA now owns 110,548 shares of the company’s stock worth $5,096,000 after purchasing an additional 7,037 shares during the last quarter. Sarasin & Partners LLP raised its stake in shares of Industrias Bachoco by 15.8% in the second quarter. Sarasin & Partners LLP now owns 220,000 shares of the company’s stock worth $11,147,000 after purchasing an additional 30,000 shares during the last quarter. Royce & Associates LP raised its stake in shares of Industrias Bachoco by 26.8% in the first quarter. Royce & Associates LP now owns 60,991 shares of the company’s stock worth $2,812,000 after purchasing an additional 12,900 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of Industrias Bachoco in the fourth quarter worth about $499,000. Finally, Jane Street Group LLC purchased a new position in shares of Industrias Bachoco in the fourth quarter worth about $219,000. Hedge funds and other institutional investors own 3.57% of the company’s stock.
Industrias Bachoco stock traded down $0.47 during midday trading on Friday, reaching $51.11. The company’s stock had a trading volume of 2,700 shares, compared to its average volume of 5,649. The stock’s 50-day simple moving average is $52.03 and its 200-day simple moving average is $49.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.31 and a quick ratio of 2.64. Industrias Bachoco has a 52-week low of $37.66 and a 52-week high of $59.63. The stock has a market capitalization of $2.58 billion, a P/E ratio of 14.64 and a beta of 0.47.
Industrias Bachoco (NYSE:IBA) last released its quarterly earnings results on Monday, July 22nd. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.18. Industrias Bachoco had a return on equity of 7.45% and a net margin of 4.72%. The company had revenue of $879.40 million during the quarter, compared to analysts’ expectations of $881.28 million. As a group, equities research analysts expect that Industrias Bachoco will post 3.76 earnings per share for the current fiscal year.
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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