Analysts Set $65.00 Price Target for Industrias Bachoco, S.A.B. de C.V. (IBA)

Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating. Industrias Bachoco’s rating score has declined by 200% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokerages have set a 1-year consensus target price of $65.00 for the company and are anticipating that the company will post $0.31 EPS for the current quarter, according to Zacks. Zacks has also assigned Industrias Bachoco an industry rank of 255 out of 255 based on the ratings given to its competitors.

A number of research firms recently commented on IBA. TheStreet lowered Industrias Bachoco from a “b-” rating to a “c” rating in a research report on Wednesday. Zacks Investment Research downgraded Industrias Bachoco from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, October 10th. Finally, JPMorgan Chase & Co. downgraded Industrias Bachoco from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th.



NYSE IBA traded down $0.68 on Friday, reaching $47.93. The company had a trading volume of 20,664 shares, compared to its average volume of 14,229. The firm has a market capitalization of $2.40 billion, a P/E ratio of 10.31 and a beta of 0.18. Industrias Bachoco has a 52-week low of $46.51 and a 52-week high of $64.44. The company has a current ratio of 3.55, a quick ratio of 2.52 and a debt-to-equity ratio of 0.04.

Industrias Bachoco (NYSE:IBA) last released its quarterly earnings results on Wednesday, October 24th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $754.00 million during the quarter, compared to analyst estimates of $736.07 million. Industrias Bachoco had a return on equity of 11.99% and a net margin of 7.35%. As a group, sell-side analysts predict that Industrias Bachoco will post 3.45 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its stake in Industrias Bachoco by 388.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,989 shares of the company’s stock valued at $174,000 after purchasing an additional 2,377 shares during the period. Quattro Financial Advisors LLC bought a new position in Industrias Bachoco in the 3rd quarter valued at $319,000. Conning Inc. bought a new position in Industrias Bachoco in the 3rd quarter valued at $410,000. Everett Harris & Co. CA grew its stake in Industrias Bachoco by 1.1% in the 2nd quarter. Everett Harris & Co. CA now owns 99,717 shares of the company’s stock valued at $5,759,000 after purchasing an additional 1,124 shares during the period. Finally, Sarasin & Partners LLP grew its stake in Industrias Bachoco by 10.0% in the 2nd quarter. Sarasin & Partners LLP now owns 110,000 shares of the company’s stock valued at $6,353,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 3.64% of the company’s stock.

About Industrias Bachoco

Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. It primarily engages in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products. The company also produces and distributes chicken, turkey, and beef value-added products, as well as medicines and vaccines for animal consumption; provides administrative and operating services; and elaborates and commercializes balanced animal feed and pet treats.

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