Zacks Investment Research upgraded shares of John Bean Technologies (NYSE:JBT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. Zacks Investment Research currently has $125.00 price target on the industrial products company’s stock.
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. “
JBT has been the topic of a number of other reports. Robert W. Baird lifted their price target on John Bean Technologies from $107.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, October 25th. Bank of America lowered John Bean Technologies from a neutral rating to an underperform rating in a report on Friday, December 8th. 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. The company has an average rating of Hold and a consensus target price of $107.50.
John Bean Technologies (NYSE:JBT) last posted its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. John Bean Technologies had a return on equity of 25.42% and a net margin of 6.27%. The company had revenue of $420.80 million for the quarter, compared to analyst estimates of $414.17 million. During the same quarter last year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. research analysts expect that John Bean Technologies will post 3.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.35%. John Bean Technologies’s dividend payout ratio (DPR) is currently 14.81%.
Institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. lifted its holdings in John Bean Technologies by 67.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 466 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of John Bean Technologies by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,330 shares of the industrial products company’s stock valued at $130,000 after buying an additional 114 shares during the period. Advisor Group Inc. raised its stake in shares of John Bean Technologies by 27.4% in the second quarter. Advisor Group Inc. now owns 1,381 shares of the industrial products company’s stock valued at $129,000 after buying an additional 297 shares during the period. D.A. Davidson & CO. raised its stake in shares of John Bean Technologies by 1.2% in the second quarter. D.A. Davidson & CO. now owns 1,574 shares of the industrial products company’s stock valued at $154,000 after buying an additional 19 shares during the period. Finally, Riverhead Capital Management LLC raised its stake in shares of John Bean Technologies by 71.6% in the second quarter. Riverhead Capital Management LLC now owns 2,231 shares of the industrial products company’s stock valued at $219,000 after buying an additional 931 shares during the period.
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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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