Zacks Investment Research upgraded shares of John Bean Technologies (NYSE:JBT) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research currently has $124.00 price target on the industrial products company’s stock.
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. “
A number of other brokerages have also commented on JBT. Bank of America lowered John Bean Technologies from a neutral rating to an underperform rating in a report on Friday, December 8th. Robert W. Baird lifted their price target on John Bean Technologies from $107.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $104.86.
John Bean Technologies (JBT) traded up $0.15 during mid-day trading on Tuesday, hitting $111.90. The stock had a trading volume of 74,839 shares, compared to its average volume of 120,589. John Bean Technologies has a 52 week low of $80.70 and a 52 week high of $120.55. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3,480.00, a price-to-earnings ratio of 40.54, a PEG ratio of 2.04 and a beta of 1.35.
John Bean Technologies (NYSE:JBT) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The business had revenue of $420.80 million for the quarter, compared to analyst estimates of $414.17 million. John Bean Technologies had a return on equity of 25.51% and a net margin of 5.41%. John Bean Technologies’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. research analysts expect that John Bean Technologies will post 3.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. John Bean Technologies’s dividend payout ratio (DPR) is currently 14.49%.
Institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its position in John Bean Technologies by 67.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock worth $113,000 after buying an additional 466 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in John Bean Technologies by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,330 shares of the industrial products company’s stock worth $130,000 after buying an additional 114 shares during the last quarter. Advisor Group Inc. increased its position in John Bean Technologies by 27.4% in the second quarter. Advisor Group Inc. now owns 1,381 shares of the industrial products company’s stock worth $129,000 after buying an additional 297 shares during the last quarter. D.A. Davidson & CO. increased its position in John Bean Technologies by 1.2% in the second quarter. D.A. Davidson & CO. now owns 1,574 shares of the industrial products company’s stock worth $154,000 after buying an additional 19 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its position in John Bean Technologies by 71.6% in the second quarter. Riverhead Capital Management LLC now owns 2,231 shares of the industrial products company’s stock worth $219,000 after buying an additional 931 shares during the last quarter. Institutional investors and hedge funds own 99.26% of the company’s stock.
John Bean Technologies Company Profile
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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