John Bean Technologies (JBT) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of John Bean Technologies (NYSE:JBT) from a hold rating to a buy rating in a report published on Thursday. The brokerage currently has $124.00 price target on the industrial products company’s stock.

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 also recently issued reports on JBT. Bank of America downgraded John Bean Technologies from a neutral rating to an underperform rating in a report on Friday, December 8th. Robert W. Baird boosted their price objective on John Bean Technologies from $107.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $104.86.

Shares of John Bean Technologies (NYSE JBT) opened at $112.35 on Thursday. John Bean Technologies has a 1-year low of $80.70 and a 1-year high of $120.55. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.28 and a quick ratio of 0.82. The firm has a market cap of $3,546.66, a PE ratio of 39.56, a price-to-earnings-growth ratio of 2.50 and a beta of 1.35.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. John Bean Technologies had a net margin of 5.41% and a return on equity of 25.51%. The company had revenue of $420.80 million during the quarter, compared to the consensus estimate of $414.17 million. During the same period in the prior year, the company earned $0.69 EPS. John Bean Technologies’s revenue was up 20.4% on a year-over-year basis. equities research analysts anticipate that John Bean Technologies will post 3.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, December 15th. This represents a $0.40 annualized dividend and a yield of 0.36%. John Bean Technologies’s payout ratio is presently 14.81%.

A number of hedge funds and other institutional investors have recently bought and sold shares of JBT. US Bancorp DE raised its holdings in John Bean Technologies by 7.6% during the 2nd quarter. US Bancorp DE now owns 1,830 shares of the industrial products company’s stock worth $180,000 after buying an additional 130 shares during the period. World Asset Management Inc acquired a new position in shares of John Bean Technologies in the 2nd quarter valued at about $204,000. Sei Investments Co. increased its holdings in shares of John Bean Technologies by 31.7% in the 2nd quarter. Sei Investments Co. now owns 5,300 shares of the industrial products company’s stock valued at $520,000 after purchasing an additional 1,275 shares during the period. TD Asset Management Inc. increased its holdings in shares of John Bean Technologies by 12.9% in the 2nd quarter. TD Asset Management Inc. now owns 34,056 shares of the industrial products company’s stock valued at $3,337,000 after purchasing an additional 3,900 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of John Bean Technologies by 4.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 132,297 shares of the industrial products company’s stock valued at $12,966,000 after purchasing an additional 5,444 shares during the period. Hedge funds and other institutional investors own 99.26% of the company’s stock.

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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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