Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA – Get Rating)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $58.70, but opened at $62.08. Industrias Bachoco shares last traded at $58.27, with a volume of 356 shares.
Analysts Set New Price Targets
A number of equities analysts recently commented on IBA shares. TheStreet raised Industrias Bachoco from a “c+” rating to an “a-” rating in a report on Friday, November 25th. JPMorgan Chase & Co. cut Industrias Bachoco from an “overweight” rating to a “neutral” rating and set a $56.00 price target on the stock. in a report on Wednesday, February 22nd. Finally, StockNews.com began coverage on Industrias Bachoco in a report on Thursday. They set a “buy” rating on the stock.
Industrias Bachoco Stock Up 0.6 %
The company has a quick ratio of 2.68, a current ratio of 3.78 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $53.53 and a 200-day moving average price of $50.75. The stock has a market capitalization of $2.97 billion, a P/E ratio of 9.65 and a beta of 0.68.
Institutional Investors Weigh In On Industrias Bachoco
Several large investors have recently made changes to their positions in IBA. BlackRock Inc. increased its holdings in shares of Industrias Bachoco by 15.5% in the first quarter. BlackRock Inc. now owns 72,285 shares of the company’s stock worth $3,378,000 after purchasing an additional 9,694 shares during the last quarter. Invesco Ltd. grew its position in Industrias Bachoco by 2.6% in the first quarter. Invesco Ltd. now owns 20,490 shares of the company’s stock worth $957,000 after acquiring an additional 525 shares in the last quarter. Virtu Financial LLC grew its position in Industrias Bachoco by 35.4% in the first quarter. Virtu Financial LLC now owns 8,474 shares of the company’s stock worth $396,000 after acquiring an additional 2,217 shares in the last quarter. Bank of Montreal Can purchased a new position in Industrias Bachoco in the second quarter worth about $939,000. Finally, O Shaughnessy Asset Management LLC grew its position in Industrias Bachoco by 65.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 60,205 shares of the company’s stock worth $2,610,000 after acquiring an additional 23,761 shares in the last quarter. 3.08% of the stock is owned by institutional investors.
About Industrias Bachoco
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.
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