Analysts Set $82.50 Target Price for John Bean Technologies Corp. (JBT)
John Bean Technologies Corp. (NYSE:JBT) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokerages have set a 12-month consensus target price of $82.50 for the company and are anticipating that the company will post $0.53 EPS for the current quarter, according to Zacks. Zacks has also given John Bean Technologies Corp. an industry rank of 242 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded shares of John Bean Technologies Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th.
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In other news, EVP Steven R. Smith sold 3,000 shares of John Bean Technologies Corp. stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $66.50, for a total value of $199,500.00. Following the sale, the executive vice president now directly owns 64,448 shares in the company, valued at $4,285,792. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.45% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC acquired a new stake in John Bean Technologies Corp. during the first quarter worth about $872,000. Bayesian Capital Management LP acquired a new stake in John Bean Technologies Corp. during the first quarter worth about $276,000. HBK Investments L P acquired a new stake in John Bean Technologies Corp. during the first quarter worth about $959,000. Pictet Asset Management Ltd. acquired a new stake in John Bean Technologies Corp. during the first quarter worth about $6,011,000. Finally, UBS Group AG increased its stake in John Bean Technologies Corp. by 6.7% in the first quarter. UBS Group AG now owns 14,364 shares of the company’s stock worth $810,000 after buying an additional 897 shares during the period. Institutional investors own 99.00% of the company’s stock.
John Bean Technologies Corp. (NYSE:JBT) traded up 3.08% during mid-day trading on Monday, hitting $74.65. 43,999 shares of the company traded hands. John Bean Technologies Corp. has a one year low of $38.67 and a one year high of $74.70. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 38.82 and a beta of 1.35. The company’s 50-day moving average is $69.38 and its 200-day moving average is $63.21.
John Bean Technologies Corp. (NYSE:JBT) last announced its earnings results on Tuesday, July 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11. The firm had revenue of $328.80 million for the quarter, compared to the consensus estimate of $304.19 million. John Bean Technologies Corp. had a net margin of 4.70% and a return on equity of 47.47%. The business’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. Analysts predict that John Bean Technologies Corp. will post $2.33 EPS for the current year.
John Bean Technologies Corp. Company Profile
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.
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