Zacks Investment Research lowered shares of John Bean Technologies (NYSE:JBT) from a buy rating to a hold rating in a report published on Wednesday, January 3rd.
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. “
Other equities analysts have also issued reports about the stock. Bank of America lowered shares of John Bean Technologies from a neutral rating to an underperform rating in a report on Friday, December 8th. Robert W. Baird lifted their price objective on shares of John Bean Technologies from $107.00 to $115.00 and gave the stock an outperform rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. John Bean Technologies currently has a consensus rating of Hold and a consensus target price of $104.86.
Shares of John Bean Technologies (JBT) traded up $0.15 during midday trading on Wednesday, reaching $111.90. 74,839 shares of the company’s stock traded hands, compared to its average volume of 156,641. 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 $3,530.00, a P/E ratio of 40.54, a P/E/G ratio of 2.07 and a beta of 1.35. John Bean Technologies has a twelve month low of $80.70 and a twelve month high of $120.55.
John Bean Technologies (NYSE:JBT) last issued its earnings results on Monday, October 23rd. The industrial products company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The business had revenue of $420.80 million for the quarter, compared to analyst estimates of $414.17 million. John Bean Technologies had a net margin of 5.41% and a return on equity of 25.51%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. research analysts predict that John Bean Technologies will post 3.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.36%. John Bean Technologies’s dividend payout ratio is currently 14.49%.
Several hedge funds have recently added to or reduced their stakes in the company. Bamco Inc. NY boosted its holdings in John Bean Technologies by 93.3% in the 3rd quarter. Bamco Inc. NY now owns 773,300 shares of the industrial products company’s stock valued at $78,181,000 after purchasing an additional 373,300 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in John Bean Technologies by 17.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 852,476 shares of the industrial products company’s stock valued at $86,611,000 after purchasing an additional 123,801 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of John Bean Technologies by 6.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,667,276 shares of the industrial products company’s stock worth $163,393,000 after acquiring an additional 106,955 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its holdings in shares of John Bean Technologies by 181.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 154,148 shares of the industrial products company’s stock worth $15,584,000 after acquiring an additional 99,407 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of John Bean Technologies by 13.6% in the 3rd quarter. American Century Companies Inc. now owns 589,764 shares of the industrial products company’s stock worth $59,625,000 after acquiring an additional 70,721 shares during the last quarter. 99.26% of the stock is owned by institutional investors and hedge funds.
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John Bean Technologies Company Profile
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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