John Bean Technologies (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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 research firms have also issued reports on JBT. Bank of America lowered shares of John Bean Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday, December 8th. Wells Fargo set a $125.00 price objective on shares of John Bean Technologies and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, BMO Capital Markets lifted their price objective on shares of John Bean Technologies to $125.00 and gave the company an “outperform” rating in a research note on Monday, March 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $110.57.
Shares of JBT stock opened at $115.80 on Wednesday. The stock has a market cap of $3,790.84, a price-to-earnings ratio of 45.77, a price-to-earnings-growth ratio of 1.96 and a beta of 1.32. John Bean Technologies has a 52 week low of $82.45 and a 52 week high of $122.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 1.33.
John Bean Technologies (NYSE:JBT) last issued its earnings results on Monday, February 26th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $483.70 million during the quarter, compared to analyst estimates of $470.35 million. John Bean Technologies had a net margin of 4.92% and a return on equity of 23.93%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. equities research analysts expect that John Bean Technologies will post 3.93 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in JBT. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of John Bean Technologies in the 4th quarter valued at $201,000. BB&T Corp acquired a new stake in shares of John Bean Technologies in the 4th quarter valued at $206,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of John Bean Technologies by 43.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,911 shares of the industrial products company’s stock valued at $212,000 after purchasing an additional 581 shares during the last quarter. Carnegie Capital Asset Management LLC bought a new position in John Bean Technologies in the 4th quarter worth $244,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in John Bean Technologies in the 4th quarter worth $245,000.
TRADEMARK VIOLATION NOTICE: This story was first posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://www.thelincolnianonline.com/2018/03/23/john-bean-technologies-jbt-stock-rating-lowered-by-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.
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.