Industrias Bachoco (NYSE:IBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “INDUSTRIAS BACHOO began its operations in 1952 in the state of Sonora, Mexico, and has since grown into the country’s undisputed leader in poultry production and one of the wold’s top ten producer. It also produces and distributes eggs, swine and balanced feed. It is a vertically integrated company, with a nationwide distribution network and processing plants operating in conjunction with over 600 facilities located throughout Mexico. “
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NYSE:IBA opened at $54.52 on Wednesday. Industrias Bachoco has a 12 month low of $53.00 and a 12 month high of $67.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.63 and a quick ratio of 2.84. The stock has a market capitalization of $2.70 billion, a PE ratio of 11.06 and a beta of 0.35.
Industrias Bachoco (NYSE:IBA) last posted its earnings results on Wednesday, April 25th. The company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.06. Industrias Bachoco had a net margin of 9.13% and a return on equity of 15.56%. The firm had revenue of $836.20 million during the quarter, compared to analysts’ expectations of $819.12 million. research analysts forecast that Industrias Bachoco will post 4.43 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of IBA. Campbell & CO Investment Adviser LLC purchased a new position in Industrias Bachoco during the 1st quarter valued at about $223,000. Deutsche Bank AG purchased a new position in Industrias Bachoco during the 4th quarter valued at about $235,000. Comerica Bank purchased a new position in Industrias Bachoco during the 4th quarter valued at about $244,000. Sarasin & Partners LLP lifted its position in Industrias Bachoco by 5.3% during the 1st quarter. Sarasin & Partners LLP now owns 100,000 shares of the company’s stock valued at $6,195,000 after acquiring an additional 5,000 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Industrias Bachoco by 1.4% during the 1st quarter. Allianz Asset Management GmbH now owns 164,564 shares of the company’s stock valued at $10,194,000 after acquiring an additional 2,194 shares during the period. 3.66% of the stock is owned by institutional investors.
Industrias Bachoco Company Profile
Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. The company primarily engages in the breeding, processing, and marketing of chicken, eggs, swine, and balanced animal feed. It also offers value-added turkey and beef products; and produces and distributes medicines and vaccines for animal consumption.
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