StockNews.com assumed coverage on shares of Industrias Bachoco (NYSE:IBA – Get Rating) in a report issued on Thursday. The firm issued a buy rating on the stock.
Several other equities research analysts also recently issued reports on IBA. TheStreet upgraded shares of Industrias Bachoco from a c+ rating to an a- rating in a research report on Friday, November 25th. JPMorgan Chase & Co. downgraded shares of Industrias Bachoco from an overweight rating to a neutral rating and set a $56.00 price objective for the company. in a research report on Wednesday, February 22nd.
Industrias Bachoco Trading Up 0.6 %
Industrias Bachoco stock opened at $59.34 on Thursday. Industrias Bachoco has a 52 week low of $38.04 and a 52 week high of $62.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.68 and a current ratio of 3.78. The stock has a market capitalization of $2.97 billion, a P/E ratio of 9.65 and a beta of 0.68. The stock has a 50-day simple moving average of $53.53 and a 200 day simple moving average of $50.78.
Institutional Investors Weigh In On Industrias Bachoco
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Industrias Bachoco by 15.5% in 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 in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Industrias Bachoco by 65.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 60,205 shares of the company’s stock valued at $2,610,000 after buying an additional 23,761 shares in the last quarter. Ritholtz Wealth Management raised 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 valued at $2,327,000 after buying an additional 24,706 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of Industrias Bachoco in the third quarter valued at approximately $1,249,000. Finally, Invesco Ltd. raised its position in shares of Industrias Bachoco by 2.6% in the first quarter. Invesco Ltd. now owns 20,490 shares of the company’s stock valued at $957,000 after buying an additional 525 shares in the last quarter. 3.08% of the stock is currently owned by institutional investors and hedge funds.
About Industrias Bachoco
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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