John Bean Technologies (JBT) Downgraded to “Hold” at Zacks Investment Research

John Bean Technologies (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Other analysts have also issued reports about the company. BMO Capital Markets raised their target price on John Bean Technologies to $125.00 and gave the company an “outperform” rating in a research note on Monday, March 5th. Wells Fargo set a $130.00 target price on John Bean Technologies and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Bank of America lowered 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, two have given a hold rating and four have issued a buy rating to the stock. John Bean Technologies has a consensus rating of “Hold” and an average price target of $110.57.

Shares of JBT stock opened at $120.05 on Wednesday. John Bean Technologies has a 12 month low of $82.45 and a 12 month high of $122.65. The firm has a market capitalization of $3,846.10, a price-to-earnings ratio of 47.45, a PEG ratio of 1.98 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 1.33 and a debt-to-equity ratio of 0.84.

John Bean Technologies (NYSE:JBT) last announced its earnings results on Monday, February 26th. The industrial products company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.02. John Bean Technologies had a return on equity of 23.93% and a net margin of 4.92%. The company had revenue of $483.70 million during the quarter, compared to analyst estimates of $470.35 million. During the same period last year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. sell-side analysts predict that John Bean Technologies will post 3.93 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. bought a new position in John Bean Technologies in the fourth quarter valued at about $201,000. BB&T Corp bought a new position in John Bean Technologies in the fourth quarter valued at about $206,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in John Bean Technologies by 43.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,911 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 581 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in John Bean Technologies in the fourth quarter valued at about $245,000. Finally, Carnegie Capital Asset Management LLC bought a new position in John Bean Technologies in the fourth quarter valued at about $244,000.

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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.

Analyst Recommendations for John Bean Technologies (NYSE:JBT)

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