Industrias Bachoco (NYSE:IBA) Research Coverage Started at StockNews.com

Research analysts at StockNews.com started coverage on shares of Industrias Bachoco (NYSE:IBA – Get Rating) in a research note issued to investors on Thursday. The firm set a “buy” rating on the stock.

Several other brokerages also recently weighed in on IBA. TheStreet raised Industrias Bachoco from a “c+” rating to an “a-” rating in a research note on Friday, November 25th. JPMorgan Chase & Co. downgraded 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.

Industrias Bachoco Trading Down 2.2 %

NYSE:IBA opened at $58.70 on Thursday. Industrias Bachoco has a 12-month low of $38.04 and a 12-month high of $60.00. The firm has a market capitalization of $2.93 billion, a P/E ratio of 9.54 and a beta of 0.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.78 and a quick ratio of 2.68. The business has a 50 day simple moving average of $53.19 and a 200 day simple moving average of $50.62.

Industrias Bachoco (NYSE:IBA – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.08 earnings per share (EPS) 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 analyst estimates of $1.21 billion. Industrias Bachoco had a net margin of 6.11% and a return on equity of 11.59%. Equities research analysts predict that Industrias Bachoco will post 6.03 EPS for the current year.

Institutional Trading of Industrias Bachoco

Hedge funds and other institutional investors have recently modified their holdings of the company. Luken Investment Analytics LLC bought a new stake in shares of Industrias Bachoco in the 4th quarter worth $25,000. UBS Group AG bought a new stake in shares of Industrias Bachoco in the 4th quarter worth $39,000. Wipfli Financial Advisors LLC bought a new stake in shares of Industrias Bachoco in the 3rd quarter worth $58,000. JPMorgan Chase & Co. raised its stake in shares of Industrias Bachoco by 1,285.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,385 shares of the company’s stock worth $71,000 after buying an additional 1,285 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Industrias Bachoco by 7.3% during the fourth quarter. Wells Fargo & Company MN now owns 3,305 shares of the company’s stock worth $169,000 after purchasing an additional 226 shares during the period. Institutional investors own 3.08% of the company’s stock.

Industrias Bachoco Company Profile

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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.