John Bean Technologies (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 set a $101.00 target price on shares of John Bean Technologies and gave the company a “buy” rating in a research note on Thursday, August 24th. Bank of America cut shares of John Bean Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.86.
Shares of John Bean Technologies (JBT) opened at $110.00 on Wednesday. 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 cap of $3,500.00, a P/E ratio of 38.75, a P/E/G ratio of 2.45 and a beta of 1.35. John Bean Technologies has a fifty-two week low of $80.70 and a fifty-two 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $420.80 million during the quarter, compared to analysts’ expectations 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 revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. analysts anticipate that John Bean Technologies will post 3.07 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of JBT. US Bancorp DE lifted its stake in John Bean Technologies by 7.6% in the second quarter. US Bancorp DE now owns 1,830 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 130 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of John Bean Technologies by 12.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,470 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 830 shares during the period. Great West Life Assurance Co. Can raised its position in shares of John Bean Technologies by 4.0% in the second quarter. Great West Life Assurance Co. Can now owns 46,193 shares of the industrial products company’s stock valued at $4,524,000 after purchasing an additional 1,756 shares during the period. World Asset Management Inc bought a new position in shares of John Bean Technologies in the second quarter valued at approximately $204,000. Finally, Sei Investments Co. raised its position in shares of John Bean Technologies by 31.7% in the second 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. Hedge funds and other institutional investors own 99.26% of the company’s stock.
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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