JPMorgan Chase & Co. Cuts JBS (NYSE:JBS) Price Target to $17.50

JBS (NYSE:JBS) had its price target lowered by JPMorgan Chase & Co. from $18.00 to $17.50 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut JBS from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. Barclays reduced their price objective on JBS from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Zacks Research upgraded JBS from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen raised JBS from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, UBS Group set a $17.00 price target on shares of JBS in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, JBS has an average rating of “Buy” and a consensus price target of $18.60.

JBS Price Performance

NYSE JBS opened at $13.64 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.77 and a debt-to-equity ratio of 2.51. The company has a fifty day simple moving average of $12.55 and a 200 day simple moving average of $14.60. The company has a market cap of $10.59 billion, a P/E ratio of 13.37, a P/E/G ratio of 4.36 and a beta of -1.65. JBS has a 1 year low of $11.49 and a 1 year high of $18.65.

JBS (NYSE:JBS) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.12). JBS had a return on equity of 12.00% and a net margin of 1.22%.The company had revenue of $23.90 billion during the quarter. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts predict that JBS will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JBS. Rhumbline Advisers bought a new position in JBS in the second quarter valued at approximately $203,000. Arrowstreet Capital Limited Partnership bought a new stake in JBS in the 2nd quarter valued at about $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 bought a new stake in shares of JBS in the second quarter valued at approximately $1,419,000. Finally, Marshall Wace LLP bought a new stake in shares of JBS in the second quarter valued at 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.