Zacks Investment Research downgraded shares of John Bean Technologies (NYSE:JBT) from a buy rating to a hold rating in a report published on Friday morning.
According to Zacks, “JBT Corporation is a leading global solutions provider to the food processing and air transportation industries. The Company designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segments. JBT Corporation employs approximately 3,100 people and operates 16 manufacturing facilities in 10 countries. “
Other analysts have also issued reports about the company. Wells Fargo & Co set a $125.00 price target on John Bean Technologies and gave the stock a buy rating in a research note on Thursday, January 18th. Bank of America downgraded John Bean Technologies from a neutral rating to an underperform rating in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. John Bean Technologies currently has a consensus rating of Hold and a consensus price target of $108.38.
John Bean Technologies (NYSE:JBT) last issued its quarterly earnings results on Monday, February 26th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.02. The firm had revenue of $483.70 million for the quarter, compared to analyst estimates of $470.35 million. John Bean Technologies had a return on equity of 25.51% and a net margin of 5.41%. The business’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. research analysts predict that John Bean Technologies will post 3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Monday, March 5th will be given a dividend of $0.10 per share. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. John Bean Technologies’s dividend payout ratio (DPR) is presently 14.81%.
A number of institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. purchased a new position in John Bean Technologies during the fourth quarter worth approximately $201,000. Xact Kapitalforvaltning AB purchased a new position in John Bean Technologies during the fourth quarter worth approximately $349,000. Sterling Capital Management LLC lifted its position in John Bean Technologies by 32.7% during the fourth quarter. Sterling Capital Management LLC now owns 26,271 shares of the industrial products company’s stock worth $2,911,000 after buying an additional 6,471 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in John Bean Technologies during the fourth quarter worth approximately $1,538,000. Finally, Castleark Management LLC purchased a new position in John Bean Technologies during the fourth quarter worth approximately $14,989,000.
About John Bean Technologies
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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