Industrias Bachoco (IBA) Sets New 12-Month Low at $41.95

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Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) reached a new 52-week low on Thursday . The company traded as low as $41.95 and last traded at $42.06, with a volume of 17316 shares traded. The stock had previously closed at $45.30.

A number of equities analysts have recently commented on the stock. TheStreet lowered shares of Industrias Bachoco from a “b-” rating to a “c” rating in a research report on Wednesday, October 24th. Zacks Investment Research lowered shares of Industrias Bachoco from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, October 10th. Finally, JPMorgan Chase & Co. lowered shares of Industrias Bachoco from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th.

The stock has a market capitalization of $2.27 billion, a P/E ratio of 8.67 and a beta of 0.45. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.72 and a current ratio of 3.55.

Industrias Bachoco (NYSE:IBA) last issued its earnings results on Wednesday, October 24th. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. The business had revenue of $754.00 million for the quarter, compared to analyst estimates of $736.07 million. Industrias Bachoco had a net margin of 7.35% and a return on equity of 11.99%. Analysts predict that Industrias Bachoco, S.A.B. de C.V. will post 3.16 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sarasin & Partners LLP boosted its stake in shares of Industrias Bachoco by 13.6% during the third quarter. Sarasin & Partners LLP now owns 125,000 shares of the company’s stock valued at $6,778,000 after purchasing an additional 15,000 shares in the last quarter. Conning Inc. bought a new position in shares of Industrias Bachoco during the third quarter valued at approximately $410,000. Quattro Financial Advisors LLC bought a new position in shares of Industrias Bachoco during the third quarter valued at approximately $319,000. Renaissance Technologies LLC boosted its stake in shares of Industrias Bachoco by 1.7% during the second quarter. Renaissance Technologies LLC now owns 562,400 shares of the company’s stock valued at $32,479,000 after purchasing an additional 9,400 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Industrias Bachoco by 5.2% during the second quarter. Royce & Associates LP now owns 216,806 shares of the company’s stock valued at $12,495,000 after purchasing an additional 10,631 shares in the last quarter. Hedge funds and other institutional investors own 3.65% of the company’s stock.

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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.

Further Reading: Hedge Funds Explained

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