Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) Given $55.00 Average Target Price by Brokerages

Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating. Industrias Bachoco’s rating score has improved by 66.7% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 12 month consensus target price of $55.00 for the company and are anticipating that the company will post $1.24 EPS for the current quarter, according to Zacks. Zacks has also given Industrias Bachoco an industry rank of 9 out of 256 based on the ratings given to its competitors.

IBA has been the topic of several research reports. ValuEngine upgraded shares of Industrias Bachoco from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Zacks Investment Research upgraded shares of Industrias Bachoco from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Industrias Bachoco from a “neutral” rating to an “overweight” rating in a research report on Tuesday, May 14th.

Industrias Bachoco stock opened at $51.19 on Wednesday. The firm’s fifty day moving average is $51.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.26 and a current ratio of 4.23. The stock has a market cap of $2.52 billion, a PE ratio of 14.67 and a beta of 0.53. Industrias Bachoco has a fifty-two week low of $37.66 and a fifty-two week high of $62.50.

Industrias Bachoco (NYSE:IBA) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.30). The company had revenue of $738.00 million for the quarter, compared to analysts’ expectations of $767.01 million. Industrias Bachoco had a net margin of 4.70% and a return on equity of 7.39%. On average, equities research analysts forecast that Industrias Bachoco will post 3.31 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Sarasin & Partners LLP grew its holdings in shares of Industrias Bachoco by 24.0% during the 4th quarter. Sarasin & Partners LLP now owns 155,000 shares of the company’s stock valued at $6,132,000 after purchasing an additional 30,000 shares during the last quarter. Everett Harris & Co. CA grew its holdings in Industrias Bachoco by 6.8% in the 1st quarter. Everett Harris & Co. CA now owns 110,548 shares of the company’s stock worth $5,096,000 after acquiring an additional 7,037 shares during the last quarter. Royce & Associates LP grew its holdings in Industrias Bachoco by 26.8% in the 1st quarter. Royce & Associates LP now owns 60,991 shares of the company’s stock worth $2,812,000 after acquiring an additional 12,900 shares during the last quarter. Deutsche Bank AG grew its holdings in Industrias Bachoco by 46.7% in the 4th quarter. Deutsche Bank AG now owns 20,911 shares of the company’s stock worth $827,000 after acquiring an additional 6,654 shares during the last quarter. Finally, Geode Capital Management LLC bought a new stake in Industrias Bachoco in the 4th quarter worth $499,000. 3.50% of the stock is currently owned by institutional investors.

About Industrias Bachoco

Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. The company operates in two segment, Poultry and Others It is primarily involved in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products.

Read More: How does the Beige Book influence monetary policy?

Get a free copy of the Zacks research report on Industrias Bachoco (IBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Industrias Bachoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Industrias Bachoco and related companies with MarketBeat.com's FREE daily email newsletter.