Industrias Bachoco (IBA) Hits New 1-Year Low at $49.63

Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) reached a new 52-week low on Thursday . The stock traded as low as $49.63 and last traded at $50.62, with a volume of 1894 shares traded. The stock had previously closed at $52.48.

Several research firms recently weighed in on IBA. Zacks Investment Research lowered Industrias Bachoco from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. JPMorgan Chase & Co. lowered Industrias Bachoco from an “overweight” rating to a “neutral” rating in a report on Friday, October 5th.

The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 2.52. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 10.51 and a beta of 0.18.

Industrias Bachoco (NYSE:IBA) last posted its earnings results on Monday, July 23rd. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.06). Industrias Bachoco had a return on equity of 14.54% and a net margin of 8.69%. The company had revenue of $815.90 million during the quarter, compared to analyst estimates of $740.25 million. As a group, equities research analysts forecast that Industrias Bachoco, S.A.B. de C.V. will post 4.55 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in Industrias Bachoco by 388.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,989 shares of the company’s stock worth $174,000 after buying an additional 2,377 shares during the period. Quattro Financial Advisors LLC bought a new position in Industrias Bachoco in the 3rd quarter worth approximately $319,000. Everett Harris & Co. CA increased its position in Industrias Bachoco by 1.1% in the 2nd quarter. Everett Harris & Co. CA now owns 99,717 shares of the company’s stock worth $5,759,000 after buying an additional 1,124 shares during the period. Sarasin & Partners LLP increased its position in Industrias Bachoco by 10.0% in the 2nd quarter. Sarasin & Partners LLP now owns 110,000 shares of the company’s stock worth $6,353,000 after buying an additional 10,000 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Industrias Bachoco by 1.4% in the 1st quarter. Allianz Asset Management GmbH now owns 164,564 shares of the company’s stock worth $10,194,000 after buying an additional 2,194 shares during the period. 3.63% of the stock is currently owned by institutional investors.

Industrias Bachoco Company Profile (NYSE:IBA)

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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