JPMorgan Chase & Co. Upgrades JBS (NYSE:JBS) to Overweight

JBS (NYSE:JBS) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a $18.00 price objective on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 32.50% from the company’s current price.

JBS has been the subject of several other reports. Barclays lowered their price objective on JBS from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Mizuho raised JBS to a “strong-buy” rating in a research report on Friday, April 10th. Wall Street Zen downgraded JBS from a “hold” rating to a “sell” rating in a report on Saturday. UBS Group set a $17.00 price target on shares of JBS in a research note on Tuesday, May 19th. Finally, Weiss Ratings cut shares of JBS from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, JBS currently has an average rating of “Buy” and an average price target of $18.75.

JBS Price Performance

JBS stock opened at $13.59 on Tuesday. The stock has a market cap of $10.54 billion and a P/E ratio of 8.54. The company has a fifty day simple moving average of $12.26 and a 200-day simple moving average of $14.69. JBS has a 12-month low of $11.49 and a 12-month high of $18.65. The company has a current ratio of 1.50, a quick ratio of 0.77 and a debt-to-equity ratio of 2.42.

JBS (NYSE:JBS) last issued its earnings results on Tuesday, May 12th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The firm had revenue of $21.61 billion for the quarter. JBS had a return on equity of 19.28% and a net margin of 1.98%.JBS’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts expect that JBS will post 1.46 EPS for the current fiscal year.

Institutional Trading of JBS

Several institutional investors and hedge funds have recently made changes to their positions in JBS. Rhumbline Advisers purchased a new position in JBS during the 2nd quarter worth approximately $203,000. Arrowstreet Capital Limited Partnership purchased a new stake in JBS in the second quarter valued at approximately $5,490,000. EverSource Wealth Advisors LLC acquired a new stake in shares of JBS in the second quarter valued at approximately $29,000. First Trust Advisors LP acquired a new stake in shares of JBS in the second quarter valued at approximately $1,419,000. Finally, Marshall Wace LLP purchased a new position in shares of JBS during the second quarter worth approximately $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.