Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA – Get Rating) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 20,800 shares, a growth of 76.3% from the March 15th total of 11,800 shares. Based on an average daily trading volume, of 14,200 shares, the days-to-cover ratio is currently 1.5 days.
A number of equities analysts have issued reports on IBA shares. StockNews.com raised Industrias Bachoco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 30th. Zacks Investment Research lowered Industrias Bachoco from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, TheStreet cut shares of Industrias Bachoco from a “b” rating to a “c+” rating in a research report on Wednesday, February 16th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its position in Industrias Bachoco by 51.2% during the fourth quarter. Signaturefd LLC now owns 839 shares of the company’s stock valued at $36,000 after purchasing an additional 284 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Industrias Bachoco by 59.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 56,119 shares of the company’s stock worth $2,480,000 after buying an additional 20,897 shares during the last quarter. Naples Global Advisors LLC increased its holdings in Industrias Bachoco by 12.1% in the third quarter. Naples Global Advisors LLC now owns 13,615 shares of the company’s stock worth $602,000 after buying an additional 1,465 shares during the last quarter. Boston Private Wealth LLC acquired a new position in Industrias Bachoco in the third quarter worth approximately $340,000. Finally, Everett Harris & Co. CA increased its holdings in Industrias Bachoco by 4.4% in the third quarter. Everett Harris & Co. CA now owns 132,744 shares of the company’s stock worth $5,867,000 after buying an additional 5,587 shares during the last quarter.
Industrias Bachoco (NYSE:IBA – Get Rating) last announced its earnings results on Thursday, February 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. Industrias Bachoco had a net margin of 6.19% and a return on equity of 10.69%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Analysts anticipate that Industrias Bachoco will post 4.07 earnings per share for the current year.
Industrias Bachoco Company Profile (Get Rating)
Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. It operates in two segments, Poultry and Others. The company is primarily involved in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products.
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