Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have been given an average 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.
Brokers have set a 1-year consensus target price of $68.00 for the company and are forecasting that the company will post $0.75 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 cut shares of Industrias Bachoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th.
Industrias Bachoco stock opened at $55.19 on Friday. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 11.19 and a beta of 0.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.52 and a current ratio of 3.29. Industrias Bachoco has a 52 week low of $53.00 and a 52 week high of $67.61.
Industrias Bachoco (NYSE:IBA) last released its earnings results on Monday, July 23rd. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.06). The company had revenue of $815.90 million for the quarter, compared to analyst estimates of $740.25 million. Industrias Bachoco had a net margin of 8.69% and a return on equity of 14.54%. research analysts forecast that Industrias Bachoco will post 4.55 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. Everett Harris & Co. CA increased its stake in 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 buying an additional 1,124 shares during the period. Allianz Asset Management GmbH increased its stake in 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 buying an additional 2,194 shares during the period. Russell Investments Group Ltd. increased its stake in Industrias Bachoco by 388.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,989 shares of the company’s stock valued at $174,000 after buying an additional 2,377 shares during the period. Renaissance Technologies LLC increased its stake in 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 buying an additional 9,400 shares during the period. Finally, Sarasin & Partners LLP grew its stake in shares of Industrias Bachoco by 10.0% in the 2nd quarter. Sarasin & Partners LLP now owns 110,000 shares of the company’s stock worth $6,353,000 after purchasing an additional 10,000 shares during the last quarter. 3.63% of the stock is currently owned by hedge funds and other institutional investors.
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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