Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $51.66 and traded as low as $48.48. Industrias Bachoco shares last traded at $49.20, with a volume of 857 shares changing hands.
Several brokerages have commented on IBA. ValuEngine cut shares of Industrias Bachoco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 19th. Zacks Investment Research raised shares of Industrias Bachoco from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.
The stock’s fifty day moving average price is $51.66 and its two-hundred day moving average price is $52.27. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 14.13 and a beta of 0.44. The company has a current ratio of 3.72, a quick ratio of 2.88 and a debt-to-equity ratio of 0.04.
Several institutional investors and hedge funds have recently made changes to their positions in IBA. Quattro Financial Advisors LLC acquired a new stake in Industrias Bachoco during the 2nd quarter worth $306,000. Susquehanna International Group LLP acquired a new stake in Industrias Bachoco during the 2nd quarter worth $326,000. Millennium Management LLC acquired a new stake in Industrias Bachoco during the 3rd quarter worth $483,000. Jane Street Group LLC acquired a new stake in Industrias Bachoco during the 2nd quarter worth $700,000. Finally, Aperio Group LLC raised its stake in Industrias Bachoco by 11.4% during the 2nd quarter. Aperio Group LLC now owns 16,611 shares of the company’s stock worth $842,000 after acquiring an additional 1,697 shares in the last quarter. Institutional investors and hedge funds own 3.44% of the company’s stock.
About Industrias Bachoco (NYSE:IBA)
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.
See Also: What is the Book Value of a Share?
Receive News & Ratings for Industrias Bachoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Industrias Bachoco and related companies with MarketBeat.com's FREE daily email newsletter.