JPMorgan Chase & Co. Increases John Bean Technologies (NYSE:JBT) Price Target to $96.00

John Bean Technologies (NYSE:JBT) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $90.00 to $96.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 5.44% from the company’s current price.

Other analysts have also issued reports about the stock. Wells Fargo & Co raised their price objective on shares of John Bean Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. ValuEngine downgraded shares of John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $108.20.

Shares of JBT opened at $101.52 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.48 and a quick ratio of 0.94. John Bean Technologies has a one year low of $66.28 and a one year high of $127.97. The company has a 50-day simple moving average of $102.40 and a two-hundred day simple moving average of $107.53. The firm has a market capitalization of $3.09 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.75 and a beta of 1.47.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings data on Monday, July 29th. The industrial products company reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.35. John Bean Technologies had a net margin of 6.36% and a return on equity of 33.68%. The business had revenue of $493.30 million during the quarter, compared to analyst estimates of $481.04 million. During the same period last year, the business posted $1.24 earnings per share. John Bean Technologies’s quarterly revenue was up .4% compared to the same quarter last year. Analysts expect that John Bean Technologies will post 4.84 EPS for the current fiscal year.

In other John Bean Technologies news, Director Caroline Maury Devine sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $109.19, for a total transaction of $32,757.00. Following the completion of the transaction, the director now owns 49,946 shares of the company’s stock, valued at $5,453,603.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James L. Marvin sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $100.12, for a total transaction of $150,180.00. Following the transaction, the executive vice president now directly owns 18,313 shares of the company’s stock, valued at approximately $1,833,497.56. The disclosure for this sale can be found here. 2.23% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in JBT. BlackRock Inc. increased its position in shares of John Bean Technologies by 4.5% during the second quarter. BlackRock Inc. now owns 4,728,466 shares of the industrial products company’s stock valued at $572,760,000 after acquiring an additional 205,371 shares in the last quarter. Morgan Stanley increased its position in shares of John Bean Technologies by 831.8% during the second quarter. Morgan Stanley now owns 145,238 shares of the industrial products company’s stock valued at $17,592,000 after acquiring an additional 129,651 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of John Bean Technologies during the second quarter valued at approximately $15,551,000. JPMorgan Chase & Co. increased its position in shares of John Bean Technologies by 21.0% during the second quarter. JPMorgan Chase & Co. now owns 648,632 shares of the industrial products company’s stock valued at $75,656,000 after acquiring an additional 112,601 shares in the last quarter. Finally, Castleark Management LLC bought a new stake in shares of John Bean Technologies during the second quarter valued at approximately $12,500,000.

John Bean Technologies Company Profile

John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to 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, weighing, X-ray food inspection, and packaging systems 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.

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