Industrias Bachoco (NYSE:IBA) Sees Large Volume Increase

Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA – Get Rating) saw unusually-strong trading volume on Friday . Approximately 714 shares traded hands during trading, a decline of 85% from the previous session’s volume of 4,675 shares.The stock last traded at $52.42 and had previously closed at $51.71.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IBA shares. StockNews.com began coverage on Industrias Bachoco in a research note on Wednesday, October 12th. They set a “strong-buy” rating on the stock. TheStreet raised Industrias Bachoco from a “c+” rating to an “a-” rating in a report on Friday, November 25th.

Industrias Bachoco Price Performance

The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 7.83 and a beta of 0.71. The stock has a fifty day simple moving average of $51.14 and a 200-day simple moving average of $48.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.26 and a quick ratio of 2.93.

Industrias Bachoco (NYSE:IBA – Get Rating) last announced its quarterly earnings results on Monday, October 24th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.25. Industrias Bachoco had a return on equity of 13.10% and a net margin of 6.94%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. On average, equities research analysts anticipate that Industrias Bachoco, S.A.B. de C.V. will post 6.75 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Industrias Bachoco by 15.5% during the 1st quarter. BlackRock Inc. now owns 72,285 shares of the company’s stock worth $3,378,000 after buying an additional 9,694 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Industrias Bachoco by 65.2% during the second quarter. O Shaughnessy Asset Management LLC now owns 60,205 shares of the company’s stock worth $2,610,000 after purchasing an additional 23,761 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Industrias Bachoco by 95.6% during the third quarter. Ritholtz Wealth Management now owns 50,545 shares of the company’s stock worth $2,327,000 after purchasing an additional 24,706 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Industrias Bachoco during the third quarter worth approximately $1,249,000. Finally, Invesco Ltd. grew its holdings in Industrias Bachoco by 2.6% in the 1st quarter. Invesco Ltd. now owns 20,490 shares of the company’s stock valued at $957,000 after buying an additional 525 shares in the last quarter. 3.08% of the stock is owned by institutional investors and hedge funds.

About Industrias Bachoco

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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 segments, Poultry and Others. It is primarily involved in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products.