John Bean Technologies (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “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, and weighing solutions 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. The company also offers automated guided vehicle systems for material handling in the manufacturing and warehouse industries; packaging material components, such as metal clips and hanging loops etc. “
Several other research firms have also weighed in on JBT. Bank of America lowered John Bean Technologies from a “neutral” rating to an “underperform” rating in a report on Friday, December 8th. Robert W. Baird lifted their target price on John Bean Technologies from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Finally, Wells Fargo & Co set a $125.00 target price on John Bean Technologies and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $107.50.
John Bean Technologies (NYSE JBT) traded up $2.05 during mid-day trading on Friday, reaching $115.75. The company’s stock had a trading volume of 106,312 shares, compared to its average volume of 101,011. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3,654.00, a price-to-earnings ratio of 42.87, a PEG ratio of 2.14 and a beta of 1.36. John Bean Technologies has a 52-week low of $80.70 and a 52-week high of $120.55.
John Bean Technologies (NYSE:JBT) last posted its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The firm had revenue of $420.80 million for the quarter, compared to analyst estimates of $414.17 million. John Bean Technologies had a return on equity of 25.42% and a net margin of 6.27%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. sell-side analysts expect that John Bean Technologies will post 3.07 earnings per share for the current year.
Several institutional investors have recently modified their holdings of JBT. Oppenheimer Asset Management Inc. lifted its holdings in shares of John Bean Technologies by 67.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 466 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of John Bean Technologies by 27.4% in the second quarter. Advisor Group Inc. now owns 1,381 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 297 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of John Bean Technologies by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,330 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 114 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of John Bean Technologies by 1.2% in the second quarter. D.A. Davidson & CO. now owns 1,574 shares of the industrial products company’s stock valued at $154,000 after purchasing an additional 19 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its holdings in shares of John Bean Technologies by 71.6% in the second quarter. Riverhead Capital Management LLC now owns 2,231 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 931 shares in the last quarter.
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About John Bean Technologies
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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