Industrias Bachoco (IBA) Upgraded to “Hold” by ValuEngine

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ValuEngine upgraded shares of Industrias Bachoco (NYSE:IBA) from a sell rating to a hold rating in a research note released on Thursday.

Separately, Zacks Investment Research lowered Industrias Bachoco from a buy rating to a sell rating in a research report on Wednesday, February 6th.

IBA traded down $1.48 on Thursday, hitting $46.50. 600 shares of the company were exchanged, compared to its average volume of 12,423. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.32 and a quick ratio of 2.57. Industrias Bachoco has a 12 month low of $37.66 and a 12 month high of $64.38. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 13.53 and a beta of 0.69.

Industrias Bachoco (NYSE:IBA) last posted its quarterly earnings results on Wednesday, January 30th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.41. Industrias Bachoco had a return on equity of 10.14% and a net margin of 6.22%. The business had revenue of $784.00 million for the quarter, compared to analyst estimates of $772.00 million. As a group, sell-side analysts anticipate that Industrias Bachoco will post 3.46 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Industrias Bachoco by 15.8% in the 4th quarter. Bank of America Corp DE now owns 2,466 shares of the company’s stock worth $98,000 after buying an additional 337 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Industrias Bachoco by 5.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 46,513 shares of the company’s stock worth $2,508,000 after buying an additional 2,292 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Industrias Bachoco in the 4th quarter worth approximately $219,000. Baird Financial Group Inc. bought a new stake in shares of Industrias Bachoco in the 3rd quarter worth approximately $305,000. Finally, Virtu Financial LLC bought a new stake in shares of Industrias Bachoco in the 3rd quarter worth approximately $662,000. Hedge funds and other institutional investors own 3.49% of the company’s stock.

Industrias Bachoco Company Profile

Industrias Bachoco SAB de CV is a holding company, which engages breeding, processing, and marketing poultry such as chicken, eggs, pork, balanced feed and other meat products. It operates through Poultry and Other segments. The Poultry segment involves in chicken and egg operations. The Other segment includes operations of pigs and balanced feed for animal consumption.

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