Shares of Industrias Bachoco, S.A. de C.V. (NYSE:IBA) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Analysts have set a 12 month consensus price objective of $71.00 for the company and are anticipating that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also given Industrias Bachoco an industry rank of 37 out of 265 based on the ratings given to its competitors.

Separately, BidaskClub upgraded shares of Industrias Bachoco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new position in shares of Industrias Bachoco during the second quarter valued at about $139,000. Parametric Portfolio Associates LLC raised its holdings in shares of Industrias Bachoco by 8.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,816 shares of the company’s stock worth $279,000 after acquiring an additional 361 shares during the last quarter. Renaissance Group LLC raised its holdings in shares of Industrias Bachoco by 10.5% in the 2nd quarter. Renaissance Group LLC now owns 7,718 shares of the company’s stock worth $447,000 after acquiring an additional 733 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Industrias Bachoco by 37.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,365 shares of the company’s stock worth $601,000 after acquiring an additional 2,800 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Industrias Bachoco by 37.4% in the 2nd quarter. New York State Common Retirement Fund now owns 21,825 shares of the company’s stock worth $1,265,000 after acquiring an additional 5,938 shares during the last quarter. Hedge funds and other institutional investors own 3.71% of the company’s stock.

Industrias Bachoco (IBA) opened at $56.97 on Thursday. Industrias Bachoco has a fifty-two week low of $45.32 and a fifty-two week high of $67.61. The firm has a market cap of $2,891.00, a PE ratio of 12.43 and a beta of 0.33. The company has a current ratio of 2.93, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05.

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Industrias Bachoco Company Profile

Industrias Bachoco, SAB. de C.V. (Bachoco) is a holding company. The Company owns and manages over 1,000 facilities, organized in approximately 10 production complexes and over 60 distribution centers in Mexico, and a production complex in the United States. Bachoco operates through two segments: poultry and others.

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