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

JBS (NYSE:JBS) had its price target lowered by JPMorgan Chase & Co. from $18.00 to $17.50 in a research note issued to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also weighed in on the stock. Wall Street Zen lowered shares of JBS from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of JBS from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 15th. Barclays reduced their price target on shares of JBS from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. UBS Group lifted their price target on shares of JBS from $17.00 to $17.50 and gave the company a “buy” rating in a report on Monday, August 24th. Finally, Stephens lowered their price objective on shares of JBS from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.42.

JBS Price Performance

Shares of NYSE JBS opened at $12.40 on Thursday. JBS has a twelve month low of $10.61 and a twelve month high of $18.65. 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 market capitalization of $9.63 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 3.20 and a beta of -1.44. The business has a 50 day simple moving average of $12.66 and a 200-day simple moving average of $13.42.

JBS (NYSE:JBS) last posted 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). JBS had a net margin of 1.22% and a return on equity of 12.00%. The firm had revenue of $23.90 billion for the quarter. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts expect that JBS will post 1.05 earnings per share for the current year.

Insider Activity at JBS

In related news, CFO Guilherme Cavalcanti sold 183,501 shares of the 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 legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JBS. Arrowstreet Capital Limited Partnership lifted its stake in shares of JBS by 117.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,687,775 shares of the company’s stock worth $138,072,000 after acquiring an additional 4,147,304 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of JBS during the second quarter valued at approximately $21,866,000. SG Americas Securities LLC increased its stake in shares of JBS by 114.4% during the first quarter. SG Americas Securities LLC now owns 746,785 shares of the company’s stock valued at $13,412,000 after acquiring an additional 398,435 shares during the period. Bank of America Corp DE increased its stake in shares of JBS by 11.6% during the first quarter. Bank of America Corp DE now owns 2,782,983 shares of the company’s stock valued at $49,982,000 after acquiring an additional 289,771 shares during the period. Finally, Wellington Management Group LLP raised its holdings in JBS by 159.8% during the second quarter. Wellington Management Group LLP now owns 222,086 shares of the company’s stock worth $2,632,000 after purchasing an additional 136,593 shares in the last quarter.

About JBS

JBS SA is a Brazil-based global food company engaged primarily in the processing and marketing of animal protein. Its operations include beef, pork, poultry and prepared foods, with products sold through retail, foodservice and industrial channels.

The company offers fresh and frozen meats, processed and ready-to-eat foods, and branded products marketed under names that include JBS, Swift, Friboi, Seara and Pilgrim’s. JBS also has businesses involved in leather, collagen, animal by-products and other food-related products, supporting an integrated approach to the protein supply chain.

Founded in 1953 by José Batista Sobrinho in Anápolis, Brazil, JBS has expanded from a local beef processor into an international food company.