John Bean Technologies (JBT) Raised to Buy at Zacks Investment Research

John Bean Technologies (NYSE:JBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $123.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.82% from the stock’s current price.

According to Zacks, “JBT 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. JBT Corporation employs approximately 3,100 people and operates 16 manufacturing facilities in 10 countries. “

Several other analysts have also recently commented on the company. Wells Fargo & Co set a $125.00 target price on John Bean Technologies and gave the company a “buy” rating in a research report on Thursday, January 18th. Bank of America cut John Bean Technologies from a “neutral” rating to an “underperform” rating in a research report on Friday, December 8th. Finally, Robert W. Baird raised their target price on John Bean Technologies from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. John Bean Technologies has a consensus rating of “Hold” and a consensus target price of $107.25.

Shares of John Bean Technologies (NYSE:JBT) opened at $110.00 on Friday. John Bean Technologies has a 1 year low of $80.70 and a 1 year high of $120.55. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.28 and a quick ratio of 0.82. The company has a market capitalization of $3,472.48, a P/E ratio of 38.73, a P/E/G ratio of 2.00 and a beta of 1.32.

Several hedge funds have recently modified their holdings of JBT. Bamco Inc. NY increased its position in shares of John Bean Technologies by 93.3% during the 3rd quarter. Bamco Inc. NY now owns 773,300 shares of the industrial products company’s stock valued at $78,181,000 after purchasing an additional 373,300 shares during the period. Global X Management Co. LLC increased its position in shares of John Bean Technologies by 128.0% during the 4th quarter. Global X Management Co. LLC now owns 351,418 shares of the industrial products company’s stock valued at $38,937,000 after purchasing an additional 197,270 shares during the period. Eagle Asset Management Inc. increased its position in shares of John Bean Technologies by 17.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 852,476 shares of the industrial products company’s stock valued at $86,611,000 after purchasing an additional 123,801 shares during the period. BlackRock Inc. increased its position in shares of John Bean Technologies by 3.2% during the 4th quarter. BlackRock Inc. now owns 3,924,309 shares of the industrial products company’s stock valued at $434,813,000 after purchasing an additional 121,001 shares during the period. Finally, Global X MANAGEMENT CO LLC increased its position in shares of John Bean Technologies by 181.6% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 154,148 shares of the industrial products company’s stock valued at $15,584,000 after purchasing an additional 99,407 shares during the period.

TRADEMARK VIOLATION WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/02/11/john-bean-technologies-jbt-raised-to-buy-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on John Bean Technologies (JBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for John Bean Technologies (NYSE:JBT)

Receive News & Ratings for John Bean Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Bean Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply