John Bean Technologies (NYSE:JBT) announced its quarterly earnings results on Sunday. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13, MarketWatch Earnings reports. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $426.31 million. John Bean Technologies had a net margin of 6.59% and a return on equity of 24.17%. John Bean Technologies’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS.
John Bean Technologies stock traded up $6.61 during mid-day trading on Tuesday, hitting $141.98. 11,761 shares of the company’s stock traded hands, compared to its average volume of 159,737. The firm has a 50 day simple moving average of $124.73 and a two-hundred day simple moving average of $107.87. John Bean Technologies has a fifty-two week low of $56.17 and a fifty-two week high of $137.07. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 37.76 and a beta of 1.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.46 and a quick ratio of 0.95.
JBT has been the subject of several research reports. TheStreet raised shares of John Bean Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, December 3rd. Zacks Investment Research cut shares of John Bean Technologies from a “hold” rating to a “strong sell” rating and set a $107.00 price target for the company. in a research note on Monday, January 18th. BMO Capital Markets raised their price target on shares of John Bean Technologies from $110.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 14th. Finally, Robert W. Baird raised their target price on shares of John Bean Technologies from $115.00 to $148.00 and gave the company a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $121.00.
In other news, EVP James L. Marvin sold 2,500 shares of John Bean Technologies stock in a transaction on Friday, January 15th. The stock was sold at an average price of $127.26, for a total transaction of $318,150.00. Following the completion of the sale, the executive vice president now owns 17,822 shares of the company’s stock, valued at $2,268,027.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Polly B. Kawalek sold 3,857 shares of John Bean Technologies stock in a transaction on Monday, December 21st. The stock was sold at an average price of $118.11, for a total value of $455,550.27. Following the sale, the director now directly owns 70,302 shares of the company’s stock, valued at approximately $8,303,369.22. The disclosure for this sale can be found here. Insiders have sold 6,657 shares of company stock valued at $810,147 in the last three months. Insiders own 2.20% of the company’s stock.
John Bean Technologies Company Profile
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, and X-ray food inspection.
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