StockNews.com Initiates Coverage on Industrias Bachoco (NYSE:IBA)

StockNews.com initiated coverage on shares of Industrias Bachoco (NYSE:IBA – Get Rating) in a research report released on Thursday morning. The firm issued a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Industrias Bachoco from an overweight rating to a neutral rating and set a $56.00 target price on the stock. in a research note on Wednesday, February 22nd. TheStreet raised shares of Industrias Bachoco from a c+ rating to an a- rating in a research note on Friday, November 25th.

Industrias Bachoco Stock Performance

NYSE IBA opened at $59.34 on Thursday. The firm’s fifty day moving average price is $53.53 and its two-hundred day moving average price is $50.78. The stock has a market cap of $2.97 billion, a PE ratio of 9.65 and a beta of 0.68. Industrias Bachoco has a fifty-two week low of $38.04 and a fifty-two week high of $62.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.68 and a current ratio of 3.78.

Industrias Bachoco (NYSE:IBA – Get Rating) last posted its earnings results on Thursday, February 9th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.27). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Industrias Bachoco had a return on equity of 11.59% and a net margin of 6.11%. On average, equities analysts expect that Industrias Bachoco will post 6.03 EPS for the current fiscal year.

Institutional Trading of Industrias Bachoco

Institutional investors have recently modified their holdings of the business. Wipfli Financial Advisors LLC bought a new stake in shares of Industrias Bachoco in the third quarter worth $58,000. JPMorgan Chase & Co. grew its stake in shares of Industrias Bachoco by 1,285.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,385 shares of the company’s stock worth $71,000 after purchasing an additional 1,285 shares during the last quarter. UBS Group AG bought a new stake in Industrias Bachoco during the fourth quarter valued at $39,000. Quadrant Capital Group LLC boosted its position in Industrias Bachoco by 29.7% during the fourth quarter. Quadrant Capital Group LLC now owns 5,450 shares of the company’s stock valued at $278,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Luken Investment Analytics LLC bought a new stake in Industrias Bachoco during the fourth quarter valued at $25,000. Institutional investors own 3.08% of the company’s stock.

About Industrias Bachoco

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