Zacks Investment Research upgraded shares of John Bean Technologies (NYSE:JBT) from a hold rating to a buy rating in a report released on Tuesday, January 9th. They currently have $124.00 price objective 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. “
JBT has been the subject of a number of other reports. Robert W. Baird upped 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 report on Wednesday, October 25th. Bank of America lowered shares of John Bean Technologies from a neutral rating to an underperform rating in a report on Friday, December 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. John Bean Technologies presently has an average rating of Hold and an average price target of $107.50.
John Bean Technologies (JBT) opened at $116.50 on Tuesday. The company has a market cap of $3,590.83 and a P/E ratio of 40.05. John Bean Technologies has a 12-month low of $80.70 and a 12-month high of $120.55. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.91.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised 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 during the last quarter. Advisor Group Inc. raised 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in John Bean Technologies by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,330 shares of the industrial products company’s stock valued at $130,000 after buying an additional 114 shares during the period. D.A. Davidson & CO. grew its position in John Bean Technologies by 1.2% during the second quarter. D.A. Davidson & CO. now owns 1,574 shares of the industrial products company’s stock valued at $154,000 after buying an additional 19 shares during the period. Finally, BB&T Corp bought a new position in John Bean Technologies during the fourth quarter valued at about $206,000.
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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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