JBS (NYSE:JBS) Upgraded at Zacks Research

JBS (NYSE:JBS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Mizuho raised shares of JBS to a “strong-buy” rating in a research report on Friday, April 10th. Barclays cut their target price on shares of JBS from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. UBS Group set a $17.00 price target on shares of JBS in a report on Tuesday, May 19th. JPMorgan Chase & Co. dropped their price target on shares of JBS from $18.50 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Weiss Ratings lowered JBS from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. Two 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 company’s stock. According to data from MarketBeat, JBS currently has a consensus rating of “Buy” and a consensus target price of $18.92.

JBS Trading Up 0.3%

NYSE:JBS opened at $11.84 on Monday. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.50 and a quick ratio of 0.77. JBS has a fifty-two week low of $11.49 and a fifty-two week high of $18.65. The stock’s 50-day moving average is $12.76 and its two-hundred day moving average is $14.82. The stock has a market cap of $9.18 billion and a PE ratio of 7.44.

JBS (NYSE:JBS) last issued 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). The business had revenue of $21.61 billion during the quarter. JBS had a net margin of 1.98% and a return on equity of 19.28%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that JBS will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Steadtrust LLC lifted its stake in shares of JBS by 8.2% in the 2nd quarter. Steadtrust LLC now owns 191,130 shares of the company’s stock valued at $2,265,000 after purchasing an additional 14,500 shares during the last quarter. Atlas Brown Inc. acquired a new position in JBS during the second quarter worth $118,000. FNY Investment Advisers LLC increased 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 worth $210,000 after buying an additional 4,790 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in JBS during the second quarter valued at about $21,866,000. Finally, Confluence Investment Management LLC lifted its position in shares of JBS by 17.3% in the second quarter. Confluence Investment Management LLC now owns 19,326 shares of the company’s stock worth $229,000 after buying 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.