John Bean Technologies (JBT) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of John Bean Technologies (NYSE:JBT) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $126.00 target price 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. “
A number of other brokerages have also commented on JBT. Bank of America lowered John Bean Technologies from a neutral rating to an underperform rating in a research report on Friday, December 8th. Robert W. Baird raised their price objective on John Bean Technologies from $107.00 to $115.00 and gave the stock an outperform rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $105.14.
John Bean Technologies (NYSE:JBT) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. John Bean Technologies had a return on equity of 25.51% and a net margin of 5.41%. The firm had revenue of $420.80 million during the quarter, compared to analyst estimates of $414.17 million. During the same period last year, the company posted $0.69 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. equities research analysts forecast that John Bean Technologies will post 3.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. John Bean Technologies’s payout ratio is presently 14.81%.
Several institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of John Bean Technologies by 15.7% during the 3rd quarter. Sterling Capital Management LLC now owns 19,800 shares of the industrial products company’s stock valued at $2,002,000 after buying an additional 2,690 shares during the last quarter. DF Dent & Co. Inc. lifted its holdings in shares of John Bean Technologies by 37.8% during the 3rd quarter. DF Dent & Co. Inc. now owns 6,339 shares of the industrial products company’s stock valued at $641,000 after buying an additional 1,739 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of John Bean Technologies by 6.1% during the 3rd quarter. California Public Employees Retirement System now owns 74,245 shares of the industrial products company’s stock valued at $7,506,000 after buying an additional 4,245 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of John Bean Technologies by 93.3% during the 3rd quarter. Bamco Inc. NY now owns 773,300 shares of the industrial products company’s stock valued at $78,181,000 after buying an additional 373,300 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its holdings in shares of John Bean Technologies by 81.9% during the 3rd quarter. Vident Investment Advisory LLC now owns 140,119 shares of the industrial products company’s stock valued at $14,384,000 after buying an additional 63,099 shares during the last quarter. Institutional investors and hedge funds own 99.26% of the company’s stock.
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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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