JBS (NYSE:JBS) Stock Price Breaks Below 50 Day Moving Average – What’s Next?

Jbs N.V. (NYSE:JBS)’s stock price crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $12.32 and traded as low as $11.17. JBS shares last traded at $11.8920, with a volume of 20,366,746 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JBS. Barclays dropped their target price on JBS from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. JPMorgan Chase & Co. decreased their price target on JBS from $18.00 to $17.50 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Weiss Ratings upgraded JBS from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 30th. UBS Group raised their price target on JBS from $17.00 to $17.50 and gave the stock a “buy” rating in a research report on Monday, August 24th. Finally, Wall Street Zen lowered shares of JBS from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.10.

JBS Stock Performance

The firm has a market cap of $9.24 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 3.33 and a beta of -1.54. The business has a 50 day simple moving average of $12.32 and a two-hundred day simple moving average of $13.97. The company has a quick ratio of 0.77, a current ratio of 1.56 and a debt-to-equity ratio of 2.58.

JBS (NYSE:JBS) last issued its earnings results on Monday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.10). The company had revenue of $22.74 billion for the quarter. JBS had a net margin of 0.76% and a return on equity of 7.62%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. As a group, equities research analysts forecast that Jbs N.V. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On JBS

A number of hedge funds have recently added to or reduced their stakes in JBS. Arrowstreet Capital Limited Partnership increased its position in shares of JBS by 117.1% during the first 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. Bank of America Corp DE boosted its holdings in shares of JBS by 11.6% in 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 purchasing an additional 289,771 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of JBS in the second quarter valued at approximately $21,866,000. Private Advisory Group LLC boosted its holdings in shares of JBS by 25.9% in the third quarter. Private Advisory Group LLC now owns 942,122 shares of the company’s stock valued at $10,637,000 after purchasing an additional 193,845 shares during the period. Finally, First Trust Advisors LP bought a new position in JBS in the third quarter worth approximately $8,758,000.

About JBS

JBS S.A. is a global food company focused on processing beef, pork, poultry and lamb. Its products include fresh and frozen meat, prepared and packaged foods, and value-added food products sold under brands such as Swift, Pilgrim’s and Seara. The company also produces ingredients and other products from animal byproducts, including leather and collagen. Founded in 1953 in Anápolis, Brazil, JBS has grown into an international business with operations across the Americas, Europe, Australia and other markets.