Industrias Bachoco (NYSE:IBA) Upgraded to Buy at ValuEngine
A number of other research analysts have also issued reports on IBA. Zacks Investment Research lowered shares of ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. set a €20.00 ($23.26) price objective on shares of STMicroelectronics and gave the company a buy rating in a report on Tuesday, May 14th.
Shares of NYSE IBA opened at $53.97 on Friday. The firm has a 50 day simple moving average of $51.57. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 15.46 and a beta of 0.47. Industrias Bachoco has a 1 year low of $37.66 and a 1 year high of $62.50. The company has a current ratio of 4.23, a quick ratio of 3.26 and a debt-to-equity ratio of 0.04.
A number of large investors have recently added to or reduced their stakes in IBA. Bank of Montreal Can increased its position in Industrias Bachoco by 188.1% during the 1st quarter. Bank of Montreal Can now owns 533 shares of the company’s stock valued at $25,000 after purchasing an additional 348 shares during the period. Bank of America Corp DE increased its position in Industrias Bachoco by 15.8% during the 4th quarter. Bank of America Corp DE now owns 2,466 shares of the company’s stock valued at $98,000 after purchasing an additional 337 shares during the period. Jane Street Group LLC acquired a new stake in Industrias Bachoco during the 4th quarter valued at approximately $219,000. Geode Capital Management LLC acquired a new stake in Industrias Bachoco during the 4th quarter valued at approximately $499,000. Finally, Deutsche Bank AG increased its position in Industrias Bachoco by 46.7% during the 4th quarter. Deutsche Bank AG now owns 20,911 shares of the company’s stock valued at $827,000 after purchasing an additional 6,654 shares during the period. 3.50% of the stock is owned by institutional investors and hedge funds.
Industrias Bachoco Company Profile
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.
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