John Bean Technologies Corporation (JBT) Downgraded by Zacks Investment Research to “Hold”
John Bean Technologies Corporation (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “JOHN BEAN TECHNOLOGIES CORPORATION is a leading global solutions provider to the food processing and air transportation industries. The Company designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segments. “
Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Robert W. Baird boosted their price target on shares of John Bean Technologies Corporation from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.86.
John Bean Technologies Corporation (NYSE:JBT) last released its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $420.80 million during the quarter, compared to analysts’ expectations of $414.17 million. John Bean Technologies Corporation had a net margin of 5.41% and a return on equity of 25.51%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS.
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In related news, VP Megan J. Rattigan sold 3,103 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $87.27, for a total transaction of $270,798.81. Following the completion of the transaction, the vice president now owns 26,091 shares in the company, valued at approximately $2,276,961.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Caroline Maury Devine sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $88.16, for a total transaction of $176,320.00. Following the transaction, the director now owns 48,592 shares of the company’s stock, valued at approximately $4,283,870.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,103 shares of company stock valued at $1,314,919. 1.81% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of JBT. BlackRock Inc. raised its stake in shares of John Bean Technologies Corporation by 30,340.7% during the 1st quarter. BlackRock Inc. now owns 3,715,900 shares of the industrial products company’s stock worth $326,813,000 after acquiring an additional 3,703,693 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of John Bean Technologies Corporation by 16.5% during the 1st quarter. Vanguard Group Inc. now owns 2,757,581 shares of the industrial products company’s stock worth $242,529,000 after acquiring an additional 390,070 shares in the last quarter. GW&K Investment Management LLC bought a new position in shares of John Bean Technologies Corporation during the 2nd quarter worth approximately $25,024,000. Eagle Asset Management Inc. raised its stake in shares of John Bean Technologies Corporation by 30.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 728,675 shares of the industrial products company’s stock worth $71,410,000 after acquiring an additional 168,142 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of John Bean Technologies Corporation during the 1st quarter worth approximately $10,633,000. Hedge funds and other institutional investors own 99.25% of the company’s stock.
About John Bean Technologies Corporation
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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