Zacks: Industrias Bachoco, S.A.B. de C.V. (IBA) Given $62.00 Average Price Target by Brokerages

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Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have received an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokerages have set a 12-month consensus price target of $62.00 for the company and are predicting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given Industrias Bachoco an industry rank of 108 out of 256 based on the ratings given to its competitors.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Industrias Bachoco from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Wednesday, September 19th. JPMorgan Chase & Co. lowered shares of Industrias Bachoco from an “overweight” rating to a “neutral” rating in a report on Friday, October 5th. Finally, TheStreet lowered shares of Industrias Bachoco from a “b-” rating to a “c” rating in a report on Wednesday, October 24th.

Shares of IBA stock opened at $44.52 on Friday. Industrias Bachoco has a 1 year low of $37.66 and a 1 year high of $64.44. The firm has a market cap of $2.16 billion, a P/E ratio of 9.03 and a beta of 0.47. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.04.

Industrias Bachoco (NYSE:IBA) last issued its quarterly earnings data on Wednesday, October 24th. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. Industrias Bachoco had a return on equity of 11.99% and a net margin of 7.35%. The company had revenue of $754.00 million for the quarter, compared to analysts’ expectations of $736.07 million. As a group, research analysts predict that Industrias Bachoco will post 3.16 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted 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 valued at $174,000 after acquiring an additional 2,377 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Industrias Bachoco in the 3rd quarter valued at $305,000. Quattro Financial Advisors LLC bought a new stake in Industrias Bachoco in the 3rd quarter valued at $319,000. Conning Inc. bought a new stake in Industrias Bachoco in the 3rd quarter valued at $410,000. Finally, Virtu Financial LLC bought a new stake in Industrias Bachoco in the 3rd quarter valued at $662,000. 3.66% of the stock is owned by hedge funds and other 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. 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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