John Bean Technologies (JBT) Downgraded by Zacks Investment Research to “Hold”

John Bean Technologies (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

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. “

JBT has been the subject of a number of other reports. Wells Fargo & Co set a $125.00 price objective on shares of John Bean Technologies and gave the company a “buy” rating in a report on Thursday. Robert W. Baird increased their price objective on shares of John Bean Technologies from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. Finally, Bank of America lowered shares of John Bean Technologies from a “neutral” rating to an “underperform” rating in a report on Friday, December 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $107.50.

John Bean Technologies (NYSE:JBT) traded up $2.05 during trading on Friday, reaching $115.75. 106,312 shares of the company traded hands, compared to its average volume of 101,011. The stock has a market cap of $3,654.00, a price-to-earnings ratio of 42.87, a price-to-earnings-growth ratio of 2.14 and a beta of 1.36. John Bean Technologies has a one year low of $80.70 and a one year high of $120.55. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.91.

John Bean Technologies (NYSE:JBT) last released its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The company had revenue of $420.80 million during the quarter, compared to analyst estimates of $414.17 million. John Bean Technologies had a net margin of 6.27% and a return on equity of 25.42%. The firm’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 EPS. analysts predict that John Bean Technologies will post 3.07 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. grew its holdings in John Bean Technologies by 67.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock valued at $113,000 after buying an additional 466 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of 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 valued at $129,000 after purchasing an additional 297 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 valued at $130,000 after purchasing an additional 114 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of 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 valued at $154,000 after purchasing an additional 19 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of John Bean Technologies by 71.6% in the second quarter. Riverhead Capital Management LLC now owns 2,231 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 931 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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