Zacks Investment Research Downgrades John Bean Technologies (JBT) to Hold

John Bean Technologies (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Several other equities analysts also recently commented on JBT. Bank of America downgraded shares of John Bean Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday, December 8th. Robert W. Baird upped their price objective on shares of John Bean Technologies from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $105.57.

Shares of John Bean Technologies (NYSE JBT) traded up $0.50 during trading hours on Wednesday, hitting $110.55. 168,413 shares of the stock traded hands, compared to its average volume of 177,730. The company has a market capitalization of $3,488.24, a P/E ratio of 38.91, a price-to-earnings-growth ratio of 2.46 and a beta of 1.35. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. John Bean Technologies has a 52-week low of $80.70 and a 52-week high of $120.55.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $420.80 million during the quarter, compared to the consensus estimate of $414.17 million. John Bean Technologies had a net margin of 5.41% and a return on equity of 25.51%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. equities research analysts expect that John Bean Technologies will post 3.07 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in JBT. Oppenheimer Asset Management Inc. raised its stake 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 in the last quarter. Advisor Group Inc. raised its stake 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 in the last quarter. D.A. Davidson & CO. raised its stake 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 in the last quarter. Finally, US Bancorp DE raised its stake in John Bean Technologies by 7.6% in the second quarter. US Bancorp DE now owns 1,830 shares of the industrial products company’s stock worth $180,000 after buying an additional 130 shares in the last quarter. 99.26% of the stock is owned by institutional investors.

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About John Bean Technologies

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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