Brokerages Set John Bean Technologies Corp (JBT) Price Target at $99.33

Shares of John Bean Technologies Corp (NYSE:JBT) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $99.33.

Several analysts have weighed in on the stock. ValuEngine lowered shares of John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research downgraded shares of John Bean Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. JPMorgan Chase & Co. downgraded shares of John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 price objective for the company. in a report on Friday, September 21st. TheStreet raised shares of John Bean Technologies from a “c+” rating to an “a-” rating in a report on Thursday, July 26th. Finally, BMO Capital Markets upped their price objective on shares of John Bean Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st.

JBT stock opened at $89.00 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.38 and a quick ratio of 0.87. John Bean Technologies has a 1-year low of $84.81 and a 1-year high of $123.90. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

John Bean Technologies (NYSE:JBT) last released its earnings results on Wednesday, October 31st. The industrial products company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.05). John Bean Technologies had a net margin of 4.32% and a return on equity of 28.31%. The business had revenue of $481.90 million for the quarter, compared to the consensus estimate of $489.81 million. During the same quarter in the previous year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts predict that John Bean Technologies will post 4.02 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new stake in John Bean Technologies in the third quarter worth about $259,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in John Bean Technologies by 12.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,545 shares of the industrial products company’s stock worth $900,000 after purchasing an additional 832 shares during the period. JPMorgan Chase & Co. lifted its holdings in John Bean Technologies by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 535,671 shares of the industrial products company’s stock worth $63,906,000 after purchasing an additional 41,664 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in John Bean Technologies in the third quarter worth about $1,612,000. Finally, Penserra Capital Management LLC acquired a new stake in John Bean Technologies in the third quarter worth about $470,000.

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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