John Bean Technologies Corp. (NYSE:JBT) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price objective of $77.50 for the company and are anticipating that the company will post $0.53 earnings per share for the current quarter, according to Zacks. Zacks has also given John Bean Technologies Corp. an industry rank of 37 out of 265 based on the ratings given to its competitors.
JBT has been the topic of several research reports. Zacks Investment Research raised John Bean Technologies Corp. from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, July 29th. BB&T Corp. initiated coverage on John Bean Technologies Corp. in a research report on Friday, June 17th. They issued a “buy” rating and a $75.00 target price on the stock.
John Bean Technologies Corp. (NYSE:JBT) opened at 70.55 on Tuesday. The company has a market cap of $2.06 billion, a P/E ratio of 36.69 and a beta of 1.37. John Bean Technologies Corp. has a 12 month low of $37.51 and a 12 month high of $71.00. The firm has a 50-day moving average price of $68.19 and a 200 day moving average price of $62.02.
John Bean Technologies Corp. (NYSE:JBT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. The firm had revenue of $328.80 million for the quarter, compared to the consensus estimate of $304.19 million. John Bean Technologies Corp. had a return on equity of 47.47% and a net margin of 4.70%. The business’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, equities analysts expect that John Bean Technologies Corp. will post $2.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.57%. This is an increase from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. John Bean Technologies Corp.’s dividend payout ratio is currently 20.83%.
In related news, EVP Steven R. Smith sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $66.50, for a total transaction of $199,500.00. Following the sale, the executive vice president now owns 64,448 shares of the company’s stock, valued at $4,285,792. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.45% of the company’s stock.
A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of John Bean Technologies Corp. by 135.1% in the first quarter. BlackRock Inc. now owns 1,897 shares of the company’s stock worth $107,000 after buying an additional 1,090 shares in the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of John Bean Technologies Corp. by 1.7% in the second quarter. BlackRock Japan Co. Ltd now owns 1,787 shares of the company’s stock worth $109,000 after buying an additional 30 shares in the last quarter. KBC Group NV bought a new stake in shares of John Bean Technologies Corp. during the second quarter worth about $159,000. Quantbot Technologies LP increased its stake in shares of John Bean Technologies Corp. by 156.7% in the second quarter. Quantbot Technologies LP now owns 3,065 shares of the company’s stock worth $187,000 after buying an additional 1,871 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of John Bean Technologies Corp. during the second quarter worth about $208,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.
About John Bean Technologies Corp.
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.
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