Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA – Get Rating)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $46.22 and traded as high as $47.99. Industrias Bachoco shares last traded at $47.97, with a volume of 7,581 shares trading hands.
Industrias Bachoco Stock Performance
The company has a 50 day simple moving average of $46.22 and a two-hundred day simple moving average of $44.83. The firm has a market cap of $2.40 billion, a PE ratio of 7.32 and a beta of 0.74.
Industrias Bachoco (NYSE:IBA – Get Rating) last issued its earnings results on Wednesday, July 27th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $1.84. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.16 billion. Industrias Bachoco had a return on equity of 13.21% and a net margin of 7.11%. As a group, research analysts predict that Industrias Bachoco, S.A.B. de C.V. will post 6.05 earnings per share for the current fiscal year.
Industrias Bachoco Cuts Dividend
Institutional Investors Weigh In On Industrias Bachoco
Several hedge funds and other institutional investors have recently made changes to their positions in IBA. Total Clarity Wealth Management Inc. purchased a new position in Industrias Bachoco in the second quarter worth approximately $43,000. Bank of Nova Scotia purchased a new position in shares of Industrias Bachoco during the first quarter worth $292,000. Cetera Advisors LLC purchased a new position in shares of Industrias Bachoco during the first quarter worth $304,000. Meixler Investment Management Ltd. purchased a new position in shares of Industrias Bachoco during the fourth quarter worth $282,000. Finally, Virtu Financial LLC boosted its position in shares of Industrias Bachoco by 35.4% during the first quarter. Virtu Financial LLC now owns 8,474 shares of the company’s stock worth $396,000 after buying an additional 2,217 shares during the period. Institutional investors and hedge funds own 2.88% of the company’s stock.
About Industrias Bachoco
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 segments, 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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