JBS (NYSE:JBS) Downgraded by JPMorgan Chase & Co. to Neutral

JBS (NYSE:JBS) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $18.50 target price on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 26.05% from the stock’s current price.

Several other equities research analysts also recently weighed in on JBS. UBS Group upgraded JBS to a “strong-buy” rating in a report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of JBS in a research note on Monday, May 4th. Zacks Research lowered shares of JBS from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Mizuho upgraded JBS to a “strong-buy” rating in a research report on Friday, April 10th. Finally, Barclays upped their price objective on shares of JBS from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

JBS Stock Down 3.9%

Shares of JBS opened at $14.68 on Thursday. The company’s 50-day moving average price is $16.49 and its 200 day moving average price is $15.30. The firm has a market cap of $11.39 billion and a P/E ratio of 9.23. JBS has a 12-month low of $12.37 and a 12-month high of $18.65. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 2.28.

JBS (NYSE:JBS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). JBS had a return on equity of 19.09% and a net margin of 1.98%.The company had revenue of $21.61 billion for the quarter. JBS’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that JBS will post 1.93 earnings per share for the current year.

Institutional Investors Weigh In On JBS

A number of hedge funds and other institutional investors have recently modified their holdings of JBS. EverSource Wealth Advisors LLC purchased a new position in shares of JBS during the second quarter valued at approximately $29,000. Los Angeles Capital Management LLC purchased a new stake in JBS in the 4th quarter worth approximately $31,000. Global Trust Asset Management LLC purchased a new stake in JBS in the 1st quarter worth approximately $34,000. Quarry LP acquired a new position in JBS in the 3rd quarter valued at $34,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of JBS by 489.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock worth $39,000 after purchasing an additional 2,206 shares during the period.

JBS Company Profile

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.