Zacks: Industrias Bachoco, S.A.B. de C.V. (IBA) Given $50.00 Average Target Price by Brokerages

Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) has been given an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Analysts have set a 12 month consensus target price of $50.00 for the company and are anticipating 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 103 out of 255 based on the ratings given to related companies.

IBA has been the subject of a number of research reports. Zacks Investment Research upgraded Industrias Bachoco from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine lowered Industrias Bachoco from a “hold” rating to a “sell” rating in a research report on Friday, February 15th.

NYSE:IBA traded up $1.18 during midday trading on Friday, reaching $45.48. The stock had a trading volume of 10,627 shares, compared to its average volume of 10,575. Industrias Bachoco has a 12-month low of $37.66 and a 12-month high of $64.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.32 and a quick ratio of 2.57. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 13.03 and a beta of 0.69.

Industrias Bachoco (NYSE:IBA) last issued its earnings results on Wednesday, January 30th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.41. Industrias Bachoco had a return on equity of 10.14% and a net margin of 6.22%. The business had revenue of $784.00 million during the quarter, compared to analysts’ expectations of $772.00 million. As a group, analysts expect that Industrias Bachoco will post 3.46 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in Industrias Bachoco by 15.8% in the 4th quarter. Bank of America Corp DE now owns 2,466 shares of the company’s stock valued at $98,000 after buying an additional 337 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Industrias Bachoco by 5.2% in the third quarter. Panagora Asset Management Inc. now owns 46,513 shares of the company’s stock valued at $2,508,000 after buying an additional 2,292 shares during the period. Jane Street Group LLC bought a new stake in shares of Industrias Bachoco in the fourth quarter valued at approximately $219,000. Baird Financial Group Inc. bought a new stake in shares of Industrias Bachoco in the third quarter valued at approximately $305,000. Finally, Virtu Financial LLC bought a new stake in shares of Industrias Bachoco in the third quarter valued at approximately $662,000. 3.49% of the stock is owned by institutional investors and hedge funds.

About Industrias Bachoco

Industrias Bachoco SAB de CV is a holding company, which engages breeding, processing, and marketing poultry such as chicken, eggs, pork, balanced feed and other meat products. It operates through Poultry and Other segments. The Poultry segment involves in chicken and egg operations. The Other segment includes operations of pigs and balanced feed for animal consumption.

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