Industrias Bachoco, S.A.B. de C.V. (IBA) Receives Average Rating of “Hold” from Analysts

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Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have been given an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating. Industrias Bachoco’s rating score has declined by 200% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokers have set a 12-month 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 given Industrias Bachoco an industry rank of 246 out of 255 based on the ratings given to its competitors.

IBA has been the topic of a number of research reports. Zacks Investment Research upgraded Industrias Bachoco from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective on the stock in a research report on Wednesday, September 19th. JPMorgan Chase & Co. cut Industrias Bachoco from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quattro Financial Advisors LLC bought a new stake in Industrias Bachoco in the third quarter valued at $319,000. Renaissance Technologies LLC grew its position in Industrias Bachoco by 1.7% in the second quarter. Renaissance Technologies LLC now owns 562,400 shares of the company’s stock valued at $32,479,000 after acquiring an additional 9,400 shares during the period. Royce & Associates LP grew its position in Industrias Bachoco by 5.2% in the second quarter. Royce & Associates LP now owns 216,806 shares of the company’s stock valued at $12,495,000 after acquiring an additional 10,631 shares during the period. Russell Investments Group Ltd. grew its position in Industrias Bachoco by 388.4% in the second quarter. Russell Investments Group Ltd. now owns 2,989 shares of the company’s stock valued at $174,000 after acquiring an additional 2,377 shares during the period. Finally, Sarasin & Partners LLP grew its position in Industrias Bachoco by 10.0% in the second quarter. Sarasin & Partners LLP now owns 110,000 shares of the company’s stock valued at $6,353,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds own 3.63% of the company’s stock.

Shares of IBA traded up $0.66 on Friday, reaching $51.75. 6,347 shares of the stock traded hands, compared to its average volume of 8,255. The stock has a market cap of $2.71 billion, a PE ratio of 10.50 and a beta of 0.18. 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 has a 12 month low of $49.84 and a 12 month high of $64.44.

Industrias Bachoco (NYSE:IBA) last released its quarterly earnings data on Monday, July 23rd. The company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.06). The firm had revenue of $815.90 million for 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%. Equities analysts forecast that Industrias Bachoco will post 4.55 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. 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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