John Bean Technologies (NYSE:JBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $126.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.65% from the stock’s current price.
According to Zacks, “John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, and weighing solutions for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato, and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals. The company also offers automated guided vehicle systems for material handling in the manufacturing and warehouse industries; packaging material components, such as metal clips and hanging loops etc. “
A number of other analysts have also recently issued reports on the stock. Bank of America cut shares of John Bean Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday, December 8th. Robert W. Baird raised their target price on shares of John Bean Technologies from $107.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. John Bean Technologies has an average rating of “Hold” and an average target price of $105.14.
John Bean Technologies (NYSE:JBT) last posted its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $420.80 million during the quarter, compared to analysts’ expectations of $414.17 million. John Bean Technologies had a net margin of 5.41% and a return on equity of 25.51%. John Bean Technologies’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. equities analysts anticipate that John Bean Technologies will post 3.07 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in JBT. Sei Investments Co. increased its position in John Bean Technologies by 31.7% during the second quarter. Sei Investments Co. now owns 5,300 shares of the industrial products company’s stock worth $520,000 after acquiring an additional 1,275 shares during the period. Schwab Charles Investment Management Inc. increased its position in John Bean Technologies by 4.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 132,297 shares of the industrial products company’s stock worth $12,966,000 after acquiring an additional 5,444 shares during the period. Bank of New York Mellon Corp increased its position in John Bean Technologies by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 468,354 shares of the industrial products company’s stock worth $45,898,000 after acquiring an additional 2,309 shares during the period. Legal & General Group Plc increased its position in John Bean Technologies by 10.1% during the second quarter. Legal & General Group Plc now owns 61,134 shares of the industrial products company’s stock worth $5,987,000 after acquiring an additional 5,607 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in John Bean Technologies by 18.7% during the second quarter. BNP Paribas Arbitrage SA now owns 11,291 shares of the industrial products company’s stock worth $1,107,000 after acquiring an additional 1,780 shares during the period. 99.26% of the stock is currently owned by institutional investors and hedge funds.
John Bean Technologies Company Profile
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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