Zacks Investment Research downgraded shares of John Bean Technologies Corp (NYSE:JBT) from a buy rating to a hold rating in a report issued on Thursday.
According to Zacks, “JOHN BEAN TECHNOLOGIES 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. “
A number of other research firms also recently weighed in on JBT. Robert W. Baird lifted their target price on John Bean Technologies Corp from $107.00 to $115.00 and gave the stock an outperform rating in a research report on Wednesday, October 25th. BidaskClub downgraded John Bean Technologies Corp from a buy rating to a hold rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. John Bean Technologies Corp currently has a consensus rating of Hold and an average target price of $104.86.
Shares of John Bean Technologies Corp (JBT) traded up $2.85 during trading hours on Thursday, reaching $108.20. The company’s stock had a trading volume of 134,399 shares, compared to its average volume of 182,074. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.28 and a quick ratio of 0.82. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 2.13 and a beta of 1.32. John Bean Technologies Corp has a 12 month low of $76.20 and a 12 month high of $115.20.
John Bean Technologies Corp (NYSE:JBT) last released its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. John Bean Technologies Corp had a return on equity of 25.51% and a net margin of 5.41%. The business had revenue of $420.80 million for the quarter, compared to the consensus estimate of $414.17 million. During the same period last year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. research analysts predict that John Bean Technologies Corp will post 3.06 EPS for the current year.
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In other John Bean Technologies Corp news, VP Megan J. Rattigan sold 3,103 shares of John Bean Technologies Corp stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $87.27, for a total transaction of $270,798.81. Following the sale, the vice president now directly owns 26,091 shares of the company’s stock, valued at $2,276,961.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven R. Smith sold 10,000 shares of John Bean Technologies Corp stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $86.78, for a total value of $867,800.00. Following the sale, the executive vice president now directly owns 50,811 shares in the company, valued at $4,409,378.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,103 shares of company stock worth $1,314,919. 1.81% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JBT. BlackRock Inc. boosted its holdings in John Bean Technologies Corp by 30,340.7% during the first quarter. BlackRock Inc. now owns 3,715,900 shares of the industrial products company’s stock valued at $326,813,000 after purchasing an additional 3,703,693 shares in the last quarter. Vanguard Group Inc. boosted its holdings in John Bean Technologies Corp by 16.5% during the first quarter. Vanguard Group Inc. now owns 2,757,581 shares of the industrial products company’s stock valued at $242,529,000 after purchasing an additional 390,070 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in John Bean Technologies Corp during the second quarter valued at approximately $25,024,000. Eagle Asset Management Inc. boosted its holdings in John Bean Technologies Corp by 30.0% during the second quarter. Eagle Asset Management Inc. now owns 728,675 shares of the industrial products company’s stock valued at $71,410,000 after purchasing an additional 168,142 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in John Bean Technologies Corp during the first quarter valued at approximately $10,633,000. 99.25% of the stock is currently owned by institutional investors.
John Bean Technologies Corp 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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