Barclays Cuts JBS (NYSE:JBS) Price Target to $20.00

JBS (NYSE:JBS) had its target price cut by research analysts at Barclays from $21.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 65.63% from the stock’s current price.

Several other equities research analysts have also recently commented on JBS. UBS Group set a $17.00 price objective on JBS in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of JBS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. lowered their price target on JBS from $18.50 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Mizuho upgraded JBS to a “strong-buy” rating in a research report on Friday, April 10th. Finally, Zacks Research raised shares of JBS from a “strong sell” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, JBS presently has an average rating of “Buy” and a consensus price target of $18.75.

JBS Stock Up 2.1%

NYSE:JBS opened at $12.07 on Thursday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.77 and a current ratio of 1.50. The firm has a market cap of $9.37 billion and a P/E ratio of 7.59. JBS has a fifty-two week low of $11.49 and a fifty-two week high of $18.65. The firm has a 50-day simple moving average of $12.66 and a two-hundred day simple moving average of $14.80.

JBS (NYSE:JBS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). JBS had a net margin of 1.98% and a return on equity of 19.28%. The firm had revenue of $21.61 billion for the quarter. The business’s revenue was up 10.7% on a year-over-year basis. Analysts predict that JBS will post 1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JBS

Several large investors have recently added to or reduced their stakes in JBS. Rhumbline Advisers bought a new position in JBS in the 2nd quarter worth $203,000. Arrowstreet Capital Limited Partnership bought a new stake in JBS in the 2nd quarter valued at $5,490,000. EverSource Wealth Advisors LLC purchased a new stake in JBS in the 2nd quarter worth $29,000. First Trust Advisors LP purchased a new stake in JBS in the 2nd quarter worth $1,419,000. Finally, Marshall Wace LLP purchased a new position in shares of JBS during the second quarter valued at about $5,206,000.

About JBS

JBS SA is a global leader in the production and processing of meat products, with a focus on beef, pork and poultry. Headquartered in São Paulo, Brazil, the company operates through an extensive network of owned facilities and partnerships that span the Americas, Europe and the Asia-Pacific region. JBS supplies fresh, frozen and value-added protein solutions for retail, foodservice and industrial customers, and is active across the entire supply chain—from livestock procurement and feed production to slaughtering, processing, packaging and distribution.

Founded in 1953 by José Batista Sobrinho in Anápolis, Goiás, JBS began as a small slaughterhouse and expanded rapidly through strategic acquisitions and organic growth.