Barclays Cuts JBS (NYSE:JBS) Price Target to $20.00

JBS (NYSE:JBS) had its price objective cut by Barclays from $21.00 to $20.00 in a report published on Thursday, MarketBeat.com reports. They currently have an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of JBS from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. JPMorgan Chase & Co. lowered their target price on shares of JBS from $18.50 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. UBS Group set a $17.00 price target on shares of JBS in a research report on Tuesday, May 19th. Zacks Research upgraded JBS from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Mizuho raised JBS to a “strong-buy” rating in a research report on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.75.

JBS Stock Down 0.8%

JBS stock opened at $11.93 on Thursday. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.50 and a quick ratio of 0.77. The stock has a market capitalization of $9.26 billion and a price-to-earnings ratio of 7.51. The business’s fifty day moving average price is $12.50 and its two-hundred day moving average price is $14.77. JBS has a fifty-two week low of $11.49 and a fifty-two week high of $18.65.

JBS (NYSE:JBS) last posted its earnings results on Tuesday, May 12th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). JBS had a return on equity of 19.28% and a net margin of 1.98%.The firm had revenue of $21.61 billion for the quarter. JBS’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that JBS will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On JBS

Hedge funds and other institutional investors have recently made changes to their positions in the company. Steadtrust LLC boosted its position in shares of JBS by 8.2% during the 2nd quarter. Steadtrust LLC now owns 191,130 shares of the company’s stock worth $2,265,000 after acquiring an additional 14,500 shares in the last quarter. Atlas Brown Inc. bought a new position in JBS in the second quarter valued at approximately $118,000. FNY Investment Advisers LLC raised its position in JBS by 36.8% during the second quarter. FNY Investment Advisers LLC now owns 17,790 shares of the company’s stock valued at $210,000 after purchasing an additional 4,790 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in JBS during the second quarter valued at approximately $21,866,000. Finally, Confluence Investment Management LLC lifted its stake in JBS by 17.3% during the second quarter. Confluence Investment Management LLC now owns 19,326 shares of the company’s stock worth $229,000 after purchasing an additional 2,845 shares during the last quarter.

About JBS

JBS SA is a global leader in the production and processing of meat products, with a focus on beef, pork and poultry. Headquartered in São Paulo, Brazil, the company operates through an extensive network of owned facilities and partnerships that span the Americas, Europe and the Asia-Pacific region. JBS supplies fresh, frozen and value-added protein solutions for retail, foodservice and industrial customers, and is active across the entire supply chain—from livestock procurement and feed production to slaughtering, processing, packaging and distribution.

Founded in 1953 by José Batista Sobrinho in Anápolis, Goiás, JBS began as a small slaughterhouse and expanded rapidly through strategic acquisitions and organic growth.