John Bean Technologies (JBT) Stock Rating Upgraded by Zacks Investment Research
John Bean Technologies (NYSE:JBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $125.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.91% from the stock’s current price.
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. “
A number of other research firms have also recently commented on JBT. Bank of America cut John Bean Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday, December 8th. Robert W. Baird increased their target price on John Bean Technologies from $107.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $105.00.
John Bean Technologies (NYSE:JBT) last released its earnings results on Monday, October 23rd. The industrial products company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. John Bean Technologies had a return on equity of 25.51% and a net margin of 5.41%. The firm had revenue of $420.80 million for the quarter, compared to analysts’ expectations of $414.17 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. equities research analysts anticipate that John Bean Technologies will post 3.07 EPS for the current year.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of John Bean Technologies by 30,340.7% during the first quarter. BlackRock Inc. now owns 3,715,900 shares of the industrial products company’s stock valued at $326,813,000 after purchasing an additional 3,703,693 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of John Bean Technologies by 2.0% during the second quarter. Vanguard Group Inc. now owns 2,811,488 shares of the industrial products company’s stock valued at $275,526,000 after purchasing an additional 53,907 shares in the last quarter. BlackRock Fund Advisors lifted its holdings in shares of John Bean Technologies by 7.6% during the third quarter. BlackRock Fund Advisors now owns 1,981,010 shares of the industrial products company’s stock valued at $139,760,000 after purchasing an additional 139,573 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of John Bean Technologies by 20.1% during the third quarter. Wells Fargo & Company MN now owns 1,784,278 shares of the industrial products company’s stock valued at $125,880,000 after purchasing an additional 298,559 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of John Bean Technologies by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 1,044,366 shares of the industrial products company’s stock valued at $104,646,000 after purchasing an additional 3,564 shares in the last quarter.
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John Bean Technologies Company Profile
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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