Industrias Bachoco (NYSE:IBA) Sets New 12-Month High at $66.25

Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA – Get Rating)'s stock price hit a new 52-week high on Monday . The company traded as high as $66.25 and last traded at $66.25, with a volume of 587 shares trading hands. The stock had previously closed at $62.00.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. cut Industrias Bachoco from an "overweight" rating to a "neutral" rating and set a $56.00 price target on the stock. in a research report on Wednesday, February 22nd. StockNews.com assumed coverage on Industrias Bachoco in a research report on Thursday, March 16th. They issued a "buy" rating on the stock.

Industrias Bachoco Stock Down 2.1 %

The business has a 50-day simple moving average of $55.73 and a two-hundred day simple moving average of $51.95. The stock has a market capitalization of $3.07 billion, a P/E ratio of 10.00 and a beta of 0.73. The company has a quick ratio of 2.68, a current ratio of 3.78 and a debt-to-equity ratio of 0.06.

Industrias Bachoco (NYSE:IBA – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.27). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Industrias Bachoco had a return on equity of 11.59% and a net margin of 6.11%. Equities research analysts forecast that Industrias Bachoco, S.A.B. de C.V. will post 6.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Industrias Bachoco

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its stake in Industrias Bachoco by 7.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,305 shares of the company's stock worth $169,000 after purchasing an additional 226 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Industrias Bachoco during the fourth quarter valued at $25,000. Invesco Ltd. lifted its stake in shares of Industrias Bachoco by 2.6% during the first quarter. Invesco Ltd. now owns 20,490 shares of the company's stock valued at $957,000 after acquiring an additional 525 shares during the period. UBS Group AG acquired a new position in shares of Industrias Bachoco during the fourth quarter valued at $39,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Industrias Bachoco during the third quarter valued at $3,882,000. Institutional investors and hedge funds own 3.08% of the company's stock.

About Industrias Bachoco

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

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