John Bean Technologies (NYSE:JBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, December 26th. The firm currently has a $124.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.81% from the stock’s previous close.
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 analysts also recently weighed in on the stock. Robert W. Baird lifted their target price on shares of John Bean Technologies from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. Bank of America downgraded shares of John Bean Technologies from a “neutral” rating to an “underperform” rating in a report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $104.86.
John Bean Technologies (NYSE:JBT) opened at $111.90 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.91. John Bean Technologies has a 12 month low of $80.70 and a 12 month high of $120.55. The firm has a market cap of $3,530.00, a P/E ratio of 40.54, a price-to-earnings-growth ratio of 2.07 and a beta of 1.35.
John Bean Technologies (NYSE:JBT) last released its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share 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 business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. sell-side analysts predict that John Bean Technologies will post 3.07 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in John Bean Technologies by 2.0% in the second quarter. Vanguard Group Inc. now owns 2,811,488 shares of the industrial products company’s stock valued at $275,526,000 after acquiring an additional 53,907 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of John Bean Technologies by 2.3% in the third quarter. Wells Fargo & Company MN now owns 1,705,825 shares of the industrial products company’s stock valued at $172,458,000 after buying an additional 38,549 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of John Bean Technologies by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 1,044,366 shares of the industrial products company’s stock valued at $104,646,000 after buying an additional 3,564 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of John Bean Technologies by 17.0% in the third quarter. Eagle Asset Management Inc. now owns 852,476 shares of the industrial products company’s stock valued at $86,611,000 after buying an additional 123,801 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of John Bean Technologies by 7.2% in the second quarter. State Street Corp now owns 776,821 shares of the industrial products company’s stock valued at $76,130,000 after buying an additional 51,939 shares during the last quarter. 99.26% of the stock is owned by hedge funds and other institutional investors.
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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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