John Bean Technologies (NYSE:JBT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “JBT Corporation is a leading global solutions provider to the food processing and air transportation industries. The Company designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segments. JBT Corporation employs approximately 3,100 people and operates 16 manufacturing facilities in 10 countries. “
A number of other research firms also recently weighed in on JBT. BMO Capital Markets lowered their target price on John Bean Technologies to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 29th. Robert W. Baird lowered their target price on John Bean Technologies from $119.00 to $95.00 and set a “hold” rating on the stock in a report on Friday, November 2nd. ValuEngine downgraded John Bean Technologies from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. Wells Fargo & Co lowered their target price on John Bean Technologies from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, December 7th. Finally, TheStreet downgraded John Bean Technologies from a “b-” rating to a “c+” rating in a report on Monday, December 24th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $98.43.
JBT stock traded up $0.74 during trading on Thursday, reaching $77.89. The stock had a trading volume of 4,566 shares, compared to its average volume of 159,530. John Bean Technologies has a 52 week low of $66.28 and a 52 week high of $123.90. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.87 and a current ratio of 1.38. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.14 and a beta of 1.26.
John Bean Technologies (NYSE:JBT) last posted its earnings results on Wednesday, October 31st. The industrial products company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). John Bean Technologies had a net margin of 4.32% and a return on equity of 28.31%. The firm had revenue of $481.90 million during the quarter, compared to the consensus estimate of $489.81 million. During the same period in the prior year, the company posted $0.82 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities analysts predict that John Bean Technologies will post 4.02 earnings per share for the current year.
In other John Bean Technologies news, EVP Carlos Fernandez sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $80.56, for a total value of $80,560.00. Following the completion of the sale, the executive vice president now owns 16,212 shares in the company, valued at $1,306,038.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.24% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of JBT. Raymond James & Associates increased its position in John Bean Technologies by 5.8% in the second quarter. Raymond James & Associates now owns 16,842 shares of the industrial products company’s stock worth $1,497,000 after buying an additional 923 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of John Bean Technologies by 266.5% during the second quarter. Advisors Asset Management Inc. now owns 18,985 shares of the industrial products company’s stock worth $492,000 after purchasing an additional 13,805 shares in the last quarter. Jane Street Group LLC grew its position in shares of John Bean Technologies by 156.5% during the second quarter. Jane Street Group LLC now owns 8,354 shares of the industrial products company’s stock worth $743,000 after purchasing an additional 5,097 shares in the last quarter. Northern Trust Corp grew its position in shares of John Bean Technologies by 2.1% during the second quarter. Northern Trust Corp now owns 413,468 shares of the industrial products company’s stock worth $36,757,000 after purchasing an additional 8,547 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of John Bean Technologies during the third quarter worth about $974,000.
About John Bean Technologies
John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing solutions, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.
Further Reading: When is a capital gain realized?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for John Bean Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Bean Technologies and related companies with MarketBeat.com's FREE daily email newsletter.