JBS (NYSE:JBS) Stock Gets Price Target Bump from JPMorgan Chase & Co.

JBS (NYSE:JBS) had its price objective hoisted by JPMorgan Chase & Co. from $17.50 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 39.37% from the company’s current price.

JBS has been the topic of several other reports. UBS Group lifted their price objective on shares of JBS from $17.00 to $17.50 and gave the company a “buy” rating in a research report on Monday, August 24th. Barclays dropped their price target on shares of 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 raised JBS from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded JBS from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Finally, Wall Street Zen lowered JBS from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

JBS Stock Performance

NYSE JBS traded up $0.17 during trading hours on Friday, hitting $12.91. The company had a trading volume of 3,995,027 shares, compared to its average volume of 5,736,760. The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 2.51. The firm has a market cap of $10.02 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 3.08 and a beta of -1.44. JBS has a fifty-two week low of $10.61 and a fifty-two week high of $18.65. The business has a fifty day simple moving average of $12.84 and a 200-day simple moving average of $13.72.

JBS (NYSE:JBS) last announced its quarterly earnings results 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). The firm had revenue of $23.90 billion for the quarter. JBS had a net margin of 1.22% and a return on equity of 12.00%. JBS’s quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts predict that JBS will post 1.08 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Guilherme Cavalcanti sold 183,501 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $13.85, for a total value of $2,541,488.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On JBS

Several large investors have recently bought and sold shares of JBS. Wedmont Private Capital bought a new stake in shares of JBS during the 3rd quarter worth about $593,000. Tidal Investments LLC boosted its holdings in shares of JBS by 1.9% in the second quarter. Tidal Investments LLC now owns 45,199 shares of the company’s stock valued at $536,000 after acquiring an additional 840 shares in the last quarter. IPG Investment Advisors LLC increased its stake in shares of JBS by 71.3% during the second quarter. IPG Investment Advisors LLC now owns 206,900 shares of the company’s stock valued at $2,452,000 after acquiring an additional 86,100 shares during the period. Squarepoint Ops LLC acquired a new position in shares of JBS during the second quarter valued at approximately $1,451,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of JBS during the second quarter valued at approximately $609,000.

JBS Company Profile

JBS SA is a Brazil-based food company focused on the processing and production of animal protein and prepared foods. Its operations include beef, pork, poultry, and lamb processing, as well as the manufacture of value-added products such as frozen and prepared meals, bacon, sausages, deli meats, and other convenience foods. The company also produces leather and other related byproducts.

Founded in 1953 by José Batista Sobrinho in Anápolis, Brazil, JBS has grown from a local cattle-slaughtering business into a multinational food company.