Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) has been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation. Industrias Bachoco’s rating score has declined by 200% in the last 90 days as a result of a number of analysts’ ratings changes.
Brokerages have set a 1 year consensus price target of $65.00 for the company and are predicting that the company will post $0.17 EPS for the current quarter, according to Zacks. Zacks has also assigned Industrias Bachoco an industry rank of 248 out of 255 based on the ratings given to related companies.
Several research firms recently weighed in on IBA. Zacks Investment Research upgraded shares of Industrias Bachoco from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a report on Wednesday, September 19th. JPMorgan Chase & Co. cut shares of Industrias Bachoco from an “overweight” rating to a “neutral” rating in a report on Friday.
Large investors have recently modified their holdings of the business. Royce & Associates LP increased 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 during the last quarter. Allianz Asset Management GmbH increased its position in shares of Industrias Bachoco by 1.4% during the 1st quarter. Allianz Asset Management GmbH now owns 164,564 shares of the company’s stock valued at $10,194,000 after purchasing an additional 2,194 shares during the last quarter. Sarasin & Partners LLP increased its position in shares of Industrias Bachoco by 10.0% during the 2nd quarter. Sarasin & Partners LLP now owns 110,000 shares of the company’s stock valued at $6,353,000 after purchasing an additional 10,000 shares during the last quarter. Renaissance Technologies LLC increased 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 during the last quarter. Finally, Everett Harris & Co. CA increased its position in shares of Industrias Bachoco by 1.1% during the 2nd quarter. Everett Harris & Co. CA now owns 99,717 shares of the company’s stock valued at $5,759,000 after purchasing an additional 1,124 shares during the last quarter. 3.63% of the stock is owned by institutional investors and hedge funds.
NYSE:IBA opened at $52.90 on Friday. The firm has a market capitalization of $2.71 billion, a P/E ratio of 10.73 and a beta of 0.18. Industrias Bachoco has a twelve month low of $52.79 and a twelve month high of $65.38. 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 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.06). The company had revenue of $815.90 million during the quarter, compared to the consensus estimate of $740.25 million. Industrias Bachoco had a net margin of 8.69% and a return on equity of 14.54%. As a group, analysts predict that Industrias Bachoco will post 4.55 earnings per share for the current fiscal year.
Industrias Bachoco Company Profile
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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