Industrias Bachoco, S.A.B. De C.V. (NYSE:IBA) Sees Large Increase in Short Interest

Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA – Get Rating) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 3,200 shares, an increase of 433.3% from the February 28th total of 600 shares. Based on an average daily trading volume, of 7,100 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Several research firms recently commented on IBA. StockNews.com began coverage on shares of Industrias Bachoco in a report on Thursday, March 16th. They set a "buy" rating on the stock. JPMorgan Chase & Co. lowered shares of Industrias Bachoco from an "overweight" rating to a "neutral" rating and set a $56.00 target price on the stock. in a report on Wednesday, February 22nd.

Industrias Bachoco Trading Up 3.0 %

Shares of IBA opened at $60.85 on Tuesday. The firm's 50-day moving average price is $54.42 and its 200-day moving average price is $51.29. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 9.89 and a beta of 0.68. The company has a current ratio of 3.78, a quick ratio of 2.68 and a debt-to-equity ratio of 0.06. Industrias Bachoco has a 1-year low of $38.04 and a 1-year high of $62.08.

Industrias Bachoco (NYSE:IBA – Get Rating) last issued its quarterly earnings results on Thursday, February 9th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.27). Industrias Bachoco had a net margin of 6.11% and a return on equity of 11.59%. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. Sell-side analysts anticipate that Industrias Bachoco will post 6.03 EPS for the current year.

Institutional Trading of Industrias Bachoco

Large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Industrias Bachoco by 15.5% during the first quarter. BlackRock Inc. now owns 72,285 shares of the company's stock valued at $3,378,000 after buying an additional 9,694 shares during the period. Ritholtz Wealth Management boosted its position in shares of Industrias Bachoco by 95.6% in the third quarter. Ritholtz Wealth Management now owns 50,545 shares of the company's stock worth $2,327,000 after purchasing an additional 24,706 shares during the period. Eqis Capital Management Inc. bought a new position in shares of Industrias Bachoco in the third quarter worth approximately $1,249,000. Invesco Ltd. lifted its holdings in shares of Industrias Bachoco by 2.6% in the first quarter. Invesco Ltd. now owns 20,490 shares of the company's stock worth $957,000 after buying an additional 525 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Industrias Bachoco in the second quarter worth $939,000. 3.08% of the stock is currently owned by institutional investors.

Industrias Bachoco Company Profile

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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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