John Bean Technologies (JBT) Rating Increased to Buy at Zacks Investment Research
John Bean Technologies (NYSE:JBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $124.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.22% from the stock’s current price.
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. “
Other analysts also recently issued reports about the company. Robert W. Baird raised their price objective on 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 downgraded John Bean Technologies from a “neutral” rating to an “underperform” rating in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. John Bean Technologies currently has an average rating of “Hold” and a consensus price target of $104.86.
Shares of John Bean Technologies (NYSE JBT) opened at $110.50 on Tuesday. 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 stock has a market capitalization of $3,483.50, a PE ratio of 40.93, a P/E/G ratio of 2.04 and a beta of 1.36. John Bean Technologies has a 52-week low of $80.70 and a 52-week high of $120.55.
John Bean Technologies (NYSE:JBT) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $420.80 million during the quarter, compared to the consensus estimate of $414.17 million. John Bean Technologies had a return on equity of 25.51% and a net margin of 5.41%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. analysts predict that John Bean Technologies will post 3.07 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its position in John Bean Technologies by 15.7% in the 3rd quarter. Sterling Capital Management LLC now owns 19,800 shares of the industrial products company’s stock valued at $2,002,000 after acquiring an additional 2,690 shares in the last quarter. DF Dent & Co. Inc. grew its position in John Bean Technologies by 37.8% in the 3rd quarter. DF Dent & Co. Inc. now owns 6,339 shares of the industrial products company’s stock valued at $641,000 after acquiring an additional 1,739 shares in the last quarter. California Public Employees Retirement System grew its position in John Bean Technologies by 6.1% in the 3rd quarter. California Public Employees Retirement System now owns 74,245 shares of the industrial products company’s stock valued at $7,506,000 after acquiring an additional 4,245 shares in the last quarter. Bamco Inc. NY grew its position in John Bean Technologies by 93.3% in the 3rd quarter. Bamco Inc. NY now owns 773,300 shares of the industrial products company’s stock valued at $78,181,000 after acquiring an additional 373,300 shares in the last quarter. Finally, Vident Investment Advisory LLC grew its position in John Bean Technologies by 81.9% in the 3rd quarter. Vident Investment Advisory LLC now owns 140,119 shares of the industrial products company’s stock valued at $14,384,000 after acquiring an additional 63,099 shares in the last quarter. 99.26% of the stock is owned by institutional investors.
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.
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 Analyst Ratings Network's FREE daily email newsletter.