Industrias Bachoco, S.A.B. de C.V. (IBA) Receives Average Recommendation of “Strong Buy” from Brokerages
Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus price target 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 assigned Industrias Bachoco an industry rank of 226 out of 265 based on the ratings given to related companies.
Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN bought a new stake in shares of Industrias Bachoco during the 2nd quarter worth about $139,000. Parametric Portfolio Associates LLC raised its position in shares of Industrias Bachoco by 8.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,816 shares of the company’s stock worth $279,000 after buying an additional 361 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Industrias Bachoco by 37.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,365 shares of the company’s stock worth $601,000 after buying an additional 2,800 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Industrias Bachoco by 37.4% during the 2nd quarter. New York State Common Retirement Fund now owns 21,825 shares of the company’s stock worth $1,265,000 after buying an additional 5,938 shares in the last quarter. Finally, Sarasin & Partners LLP raised its position in shares of Industrias Bachoco by 4.2% during the 3rd quarter. Sarasin & Partners LLP now owns 90,000 shares of the company’s stock worth $5,985,000 after buying an additional 3,631 shares in the last quarter. Hedge funds and other institutional investors own 3.71% of the company’s stock.
About Industrias Bachoco
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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