JBS (NYSE:JBS) Price Target Raised to $20.50 at JPMorgan Chase & Co.

JBS (NYSE:JBS) had its target price raised by investment analysts at JPMorgan Chase & Co. from $20.00 to $20.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 23.98% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Mizuho raised JBS to a “strong-buy” rating in a report on Friday, April 10th. Zacks Research downgraded shares of JBS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Weiss Ratings upgraded JBS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. UBS Group raised JBS to a “strong-buy” rating in a research report on Friday, February 6th. Finally, Barclays lifted their price target on JBS from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $20.08.

JBS Price Performance

JBS stock traded down $0.33 during trading hours on Friday, hitting $16.54. 1,823,537 shares of the company traded hands, compared to its average volume of 4,581,070. JBS has a 1-year low of $12.37 and a 1-year high of $18.65. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 2.28. The firm has a market cap of $12.79 billion and a P/E ratio of 11.46. The firm’s 50-day simple moving average is $16.58 and its two-hundred day simple moving average is $15.02.

JBS (NYSE:JBS) last announced its earnings results on Wednesday, March 25th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $2.25 by ($1.86). The company had revenue of $23.06 billion during the quarter. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts forecast that JBS will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of JBS. Rhumbline Advisers bought a new position in shares of JBS during the 2nd quarter valued at $203,000. Arrowstreet Capital Limited Partnership bought a new stake in JBS in the second quarter worth $5,490,000. EverSource Wealth Advisors LLC acquired a new position in JBS during the second quarter worth $29,000. First Trust Advisors LP acquired a new position in JBS during the second quarter worth $1,419,000. Finally, Marshall Wace LLP bought a new position in JBS during the second quarter valued at about $5,206,000.

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.