John Bean Technologies (JBT) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of John Bean Technologies (NYSE:JBT) from a buy rating to a hold rating in a report published on Wednesday morning.

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 equities research analysts also recently issued reports on JBT. Bank of America downgraded shares of John Bean Technologies from a neutral rating to an underperform rating in a report on Friday, December 8th. Robert W. Baird increased their price target on shares of John Bean Technologies from $107.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $105.57.

Shares of John Bean Technologies (NYSE:JBT) traded up $0.50 during trading on Wednesday, hitting $110.55. 168,400 shares of the stock were exchanged, compared to its average volume of 177,730. John Bean Technologies has a 52-week low of $80.70 and a 52-week high of $120.55. The stock has a market capitalization of $3,500.00, a P/E ratio of 38.75, a price-to-earnings-growth ratio of 2.45 and a beta of 1.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 1.28.

John Bean Technologies (NYSE:JBT) last announced its quarterly 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. John Bean Technologies had a net margin of 5.41% and a return on equity of 25.51%. The firm had revenue of $420.80 million for the quarter, compared to the consensus estimate of $414.17 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. equities research analysts expect that John Bean Technologies will post 3.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, December 15th. John Bean Technologies’s dividend payout ratio (DPR) is 14.49%.

Hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its position in shares of John Bean Technologies by 67.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 466 shares during the last quarter. Advisor Group Inc. increased its position 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 worth $129,000 after purchasing an additional 297 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 worth $130,000 after purchasing an additional 114 shares during the last quarter. D.A. Davidson & CO. increased its position 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 worth $154,000 after purchasing an additional 19 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of John Bean Technologies by 7.6% in the second quarter. US Bancorp DE now owns 1,830 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 99.26% of the company’s stock.

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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.

Analyst Recommendations for John Bean Technologies (NYSE:JBT)

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