John Bean Technologies (JBT) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of John Bean Technologies (NYSE:JBT) from a buy rating to a hold rating in a research report sent to investors on Wednesday, January 10th.

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. “

Other analysts have also issued research reports about the stock. Robert W. Baird upped their target price on shares of John Bean Technologies from $107.00 to $115.00 and gave the stock an outperform rating in a research note on Wednesday, October 25th. Bank of America lowered shares of John Bean Technologies from a neutral rating to an underperform rating in a research note on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $105.00.

Shares of John Bean Technologies (NYSE JBT) opened at $112.70 on Wednesday. John Bean Technologies has a one year low of $80.70 and a one year high of $120.55. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.91. The stock has a market cap of $3,522.96, a price-to-earnings ratio of 41.74, a PEG ratio of 2.07 and a beta of 1.36.

John Bean Technologies (NYSE:JBT) last posted its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $414.17 million. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. research analysts expect that John Bean Technologies will post 3.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Friday, December 15th. John Bean Technologies’s dividend payout ratio (DPR) is currently 14.81%.

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its holdings in shares of John Bean Technologies by 67.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock worth $113,000 after buying an additional 466 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of John Bean Technologies by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,330 shares of the industrial products company’s stock worth $130,000 after buying an additional 114 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of John Bean Technologies by 27.4% in the 2nd quarter. Advisor Group Inc. now owns 1,381 shares of the industrial products company’s stock worth $129,000 after buying an additional 297 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of John Bean Technologies by 1.2% in the 2nd quarter. D.A. Davidson & CO. now owns 1,574 shares of the industrial products company’s stock worth $154,000 after buying an additional 19 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in shares of John Bean Technologies by 71.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,231 shares of the industrial products company’s stock worth $219,000 after buying an additional 931 shares during the last quarter.

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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.

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