Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating. Industrias Bachoco’s rating score has declined by 200% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokerages have set a one year consensus target price of $62.00 for the company and are forecasting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also assigned Industrias Bachoco an industry rank of 242 out of 257 based on the ratings given to its competitors.
A number of equities analysts recently issued reports on IBA shares. Zacks Investment Research upgraded shares of Industrias Bachoco from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective for the company in a research report on Wednesday, September 19th. JPMorgan Chase & Co. lowered shares of Industrias Bachoco from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. Finally, TheStreet lowered shares of Industrias Bachoco from a “b-” rating to a “c” rating in a research report on Wednesday, October 24th.
Several large investors have recently bought and sold shares of IBA. Sarasin & Partners LLP boosted its position in shares of Industrias Bachoco by 13.6% during the 3rd quarter. Sarasin & Partners LLP now owns 125,000 shares of the company’s stock valued at $6,778,000 after purchasing an additional 15,000 shares in the last quarter. Royce & Associates LP boosted its position in shares of Industrias Bachoco by 5.2% during the 2nd quarter. Royce & Associates LP now owns 216,806 shares of the company’s stock valued at $12,495,000 after purchasing an additional 10,631 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Industrias Bachoco by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 562,400 shares of the company’s stock valued at $32,479,000 after purchasing an additional 9,400 shares in the last quarter. Conning Inc. bought a new position in shares of Industrias Bachoco during the 3rd quarter valued at about $410,000. Finally, Quattro Financial Advisors LLC bought a new position in shares of Industrias Bachoco during the 3rd quarter valued at about $319,000. Institutional investors own 3.65% of the company’s stock.
IBA traded up $0.69 on Monday, reaching $42.75. The company had a trading volume of 30,707 shares, compared to its average volume of 14,865. The firm has a market capitalization of $2.27 billion, a PE ratio of 8.67 and a beta of 0.45. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.04. Industrias Bachoco has a one year low of $41.27 and a one year high of $64.44.
Industrias Bachoco (NYSE:IBA) last announced its earnings results on Wednesday, October 24th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. The firm had revenue of $754.00 million during the quarter, compared to analyst estimates of $736.07 million. Industrias Bachoco had a net margin of 7.35% and a return on equity of 11.99%. On average, equities analysts expect that Industrias Bachoco will post 3.16 EPS for the current year.
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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