John Bean Technologies (NYSE:JBT) Reaches New 1-Year High – Time to Buy?

John Bean Technologies Co. (NYSE:JBT) shares hit a new 52-week high on Monday . The company traded as high as $123.68 and last traded at $123.20, with a volume of 98864 shares trading hands. The stock had previously closed at $120.69.

John Bean Technologies Price Performance

The company has a market capitalization of $3.99 billion, a PE ratio of 23.04, a PEG ratio of 1.72 and a beta of 1.22. The company has a current ratio of 2.55, a quick ratio of 2.00 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average price is $107.05 and its 200-day moving average price is $98.14.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. John Bean Technologies had a return on equity of 10.16% and a net margin of 10.25%. The company had revenue of $453.80 million during the quarter, compared to analyst estimates of $442.20 million. During the same period in the prior year, the firm posted $1.11 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts forecast that John Bean Technologies Co. will post 5.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On John Bean Technologies

Several institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in shares of John Bean Technologies during the 1st quarter valued at $61,000. Tidal Investments LLC grew its stake in shares of John Bean Technologies by 20.4% in the first quarter. Tidal Investments LLC now owns 6,846 shares of the industrial products company’s stock valued at $718,000 after buying an additional 1,161 shares in the last quarter. Confluence Investment Management LLC grew its stake in shares of John Bean Technologies by 248.1% in the second quarter. Confluence Investment Management LLC now owns 112,358 shares of the industrial products company’s stock valued at $10,671,000 after buying an additional 80,077 shares in the last quarter. Cascade Investment Advisors Inc. raised its holdings in shares of John Bean Technologies by 7.0% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 12,608 shares of the industrial products company’s stock valued at $1,197,000 after buying an additional 820 shares during the period. Finally, CWM LLC lifted its position in John Bean Technologies by 113.2% during the 2nd quarter. CWM LLC now owns 324 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 172 shares in the last quarter. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

John Bean Technologies Company Profile

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.