John Bean Technologies Corp. Coverage Initiated at Global Hunter Securities (JBT)
Stock analysts at Global Hunter Securities assumed coverage on shares of John Bean Technologies Corp. (NYSE:JBT) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $31.00 price target on the stock. Global Hunter Securities’ price target would suggest a potential upside of 44.59% from the stock’s previous close. The analysts noted that the move was a valuation call.
John Bean Technologies Corp. (NYSE:JBT) opened at 21.44 on Tuesday. John Bean Technologies Corp. has a 52-week low of $13.93 and a 52-week high of $24.83. The stock’s 50-day moving average is $23.17 and its 200-day moving average is $21.04. The company has a market cap of $620.8 million and a price-to-earnings ratio of 16.87.
John Bean Technologies Corp. (NYSE:JBT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $226.90 million for the quarter, compared to the consensus estimate of $223.30 million. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts predict that John Bean Technologies Corp. will post $1.36 earnings per share for the current fiscal year.
Separately, analysts at CL King downgraded shares of John Bean Technologies Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, August 7th.
Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. John Bean Technologies Corp. presently has a consensus rating of “Hold” and a consensus price target of $31.00.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, August 23rd.
John Bean Technologies Corporation is a global technology solutions provider for the food processing and air transportation industries.
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