John Bean Technologies (JBT) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of John Bean Technologies (NYSE:JBT) from a sell rating to a hold rating in a research note released on Tuesday.
According to Zacks, “JBT Corporation is a leading global solutions provider to the food processing and air transportation industries. The Company designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segments. JBT Corporation employs approximately 3,100 people and operates 16 manufacturing facilities in 10 countries. “
A number of other research firms have also recently commented on JBT. BMO Capital Markets reduced their target price on shares of John Bean Technologies to $105.00 and set an outperform rating on the stock in a research report on Thursday, November 29th. Robert W. Baird reduced their target price on shares of John Bean Technologies from $119.00 to $95.00 and set a hold rating on the stock in a research report on Friday, November 2nd. JPMorgan Chase & Co. cut shares of John Bean Technologies from a neutral rating to an underweight rating and set a $88.00 target price on the stock. in a research report on Friday, September 21st. ValuEngine cut shares of John Bean Technologies from a hold rating to a sell rating in a research report on Thursday, November 15th. Finally, Wells Fargo & Co reduced their target price on shares of John Bean Technologies from $110.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, December 7th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. John Bean Technologies currently has a consensus rating of Hold and a consensus target price of $98.43.
John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The business had revenue of $481.90 million for the quarter, compared to analyst estimates of $489.81 million. John Bean Technologies had a net margin of 4.32% and a return on equity of 28.31%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. On average, equities analysts forecast that John Bean Technologies will post 4.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Monday, December 17th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, December 14th. This represents a $0.40 annualized dividend and a yield of 0.51%. John Bean Technologies’s payout ratio is 12.90%.
In other John Bean Technologies news, EVP Carlos Fernandez sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $80.56, for a total transaction of $80,560.00. Following the completion of the sale, the executive vice president now owns 16,212 shares in the company, valued at $1,306,038.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.24% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of John Bean Technologies by 3.2% during the third quarter. BlackRock Inc. now owns 4,505,576 shares of the industrial products company’s stock worth $537,514,000 after acquiring an additional 139,054 shares during the last quarter. Vanguard Group Inc. lifted its holdings in John Bean Technologies by 1.8% in the third quarter. Vanguard Group Inc. now owns 3,148,909 shares of the industrial products company’s stock worth $375,664,000 after purchasing an additional 56,258 shares during the period. Vanguard Group Inc lifted its holdings in John Bean Technologies by 1.8% in the third quarter. Vanguard Group Inc now owns 3,148,909 shares of the industrial products company’s stock worth $375,664,000 after purchasing an additional 56,258 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in John Bean Technologies by 14,909.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 814,999 shares of the industrial products company’s stock worth $97,230,000 after purchasing an additional 809,569 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in John Bean Technologies by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 724,340 shares of the industrial products company’s stock worth $86,414,000 after purchasing an additional 4,627 shares during the period.
John Bean Technologies Company Profile
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, weighing solutions, X-ray food inspection, and packaging systems 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.
Recommended Story: How can you know how many shares are floating?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for John Bean Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Bean Technologies and related companies with MarketBeat.com's FREE daily email newsletter.