John Bean Technologies (NYSE:JBT) was upgraded by investment analysts at Wellington Shields from a “hold” rating to a “gradually accumulate” rating in a research note issued on Tuesday.
A number of other research firms also recently weighed in on JBT. BMO Capital Markets dropped their target price on John Bean Technologies to $105.00 and set an “outperform” rating for the company in a report on Thursday, November 29th. Robert W. Baird dropped their target price on John Bean Technologies from $119.00 to $95.00 and set a “hold” rating for the company in a report on Friday, November 2nd. Zacks Investment Research downgraded John Bean Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. ValuEngine downgraded John Bean Technologies from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. Finally, Wells Fargo & Co dropped their target price on John Bean Technologies from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, December 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $96.71.
JBT stock traded up $1.18 during midday trading on Tuesday, reaching $78.89. 307 shares of the company were exchanged, compared to its average volume of 153,109. John Bean Technologies has a one year low of $66.28 and a one year high of $123.90. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.38 and a quick ratio of 0.87. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.32.
In related news, EVP Carlos Fernandez sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $80.56, for a total value of $80,560.00. Following the completion of the transaction, the executive vice president now owns 16,212 shares of the company’s stock, valued at $1,306,038.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.24% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. NJ State Employees Deferred Compensation Plan acquired a new position in John Bean Technologies in the third quarter valued at about $974,000. Everence Capital Management Inc. acquired a new position in John Bean Technologies in the third quarter valued at about $249,000. Federated Investors Inc. PA raised its stake in John Bean Technologies by 293,356.3% in the third quarter. Federated Investors Inc. PA now owns 46,953 shares of the industrial products company’s stock valued at $5,601,000 after purchasing an additional 46,937 shares in the last quarter. Fifth Third Bancorp raised its stake in John Bean Technologies by 155.1% during the third quarter. Fifth Third Bancorp now owns 2,258 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 1,373 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in John Bean Technologies during the third quarter worth about $710,000.
About John Bean Technologies
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, weighing solutions, X-ray food inspection, and packaging systems 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.
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