John Bean Technologies (JBT) Stock Rating Lowered by Zacks Investment Research

John Bean Technologies (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

JBT has been the subject of a number of other reports. Robert W. Baird lowered shares of John Bean Technologies from an “outperform” rating to a “neutral” rating and set a $119.00 price target for the company. in a report on Monday, April 23rd. Wells Fargo & Co set a $115.00 price objective on shares of John Bean Technologies and gave the stock a “buy” rating in a report on Thursday, May 3rd. ValuEngine upgraded shares of John Bean Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Seaport Global Securities lowered shares of John Bean Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $94.00 in a report on Thursday, May 3rd. Finally, BMO Capital Markets decreased their price objective on shares of John Bean Technologies from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $109.17.

NYSE:JBT opened at $109.90 on Thursday. John Bean Technologies has a 52 week low of $84.81 and a 52 week high of $122.65. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.33 and a quick ratio of 0.80. The firm has a market cap of $3.42 billion, a P/E ratio of 35.45, a PEG ratio of 1.67 and a beta of 1.25.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.19. John Bean Technologies had a net margin of 4.43% and a return on equity of 26.58%. The company had revenue of $491.30 million during the quarter, compared to analyst estimates of $474.59 million. During the same period in the prior year, the business posted $0.58 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year. equities research analysts expect that John Bean Technologies will post 4.02 EPS for the current fiscal year.

In related news, VP Brian A. Deck acquired 1,000 shares of the firm’s stock in a transaction on Thursday, May 31st. The stock was acquired at an average cost of $87.92 per share, for a total transaction of $87,920.00. Following the acquisition, the vice president now owns 49,973 shares of the company’s stock, valued at $4,393,626.16. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.24% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Global X Management Co LLC raised its holdings in John Bean Technologies by 6.6% in the 2nd quarter. Global X Management Co LLC now owns 598,799 shares of the industrial products company’s stock worth $53,233,000 after purchasing an additional 36,836 shares in the last quarter. Carnegie Capital Asset Management LLC bought a new position in John Bean Technologies in the 2nd quarter worth $239,000. Jane Street Group LLC raised its holdings in John Bean Technologies by 156.5% in the 2nd quarter. Jane Street Group LLC now owns 8,354 shares of the industrial products company’s stock worth $743,000 after purchasing an additional 5,097 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in John Bean Technologies by 266.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 18,985 shares of the industrial products company’s stock worth $492,000 after purchasing an additional 13,805 shares in the last quarter. Finally, DF Dent & Co. Inc. raised its holdings in John Bean Technologies by 80.9% in the 2nd quarter. DF Dent & Co. Inc. now owns 13,360 shares of the industrial products company’s stock worth $1,188,000 after purchasing an additional 5,974 shares in the last quarter.

About John Bean Technologies

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, weighing solutions, 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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