JBS (NYSE:JBS) Rating Lowered to Hold at Zacks Research

JBS (NYSE:JBS) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. The Goldman Sachs Group set a $18.50 price target on JBS in a report on Wednesday, November 26th. UBS Group raised JBS to a “strong-buy” rating in a report on Friday, February 6th. Mizuho set a $20.00 target price on shares of JBS in a report on Tuesday, October 28th. Santander raised shares of JBS from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings raised shares of JBS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $19.40.

JBS Trading Up 0.5%

Shares of JBS stock opened at $16.23 on Tuesday. JBS has a 12-month low of $12.37 and a 12-month high of $17.80. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.54 and a quick ratio of 0.76. The firm has a fifty day moving average of $14.80 and a 200-day moving average of $14.47.

Institutional Investors Weigh In On JBS

A number of large investors have recently bought and sold shares of JBS. Davis Selected Advisers acquired a new position in shares of JBS in the 4th quarter valued at approximately $170,945,000. JPMorgan Chase & Co. bought a new position in JBS in the second quarter valued at approximately $161,969,000. Banco BTG Pactual S.A. acquired a new position in JBS during the third quarter valued at approximately $143,175,000. Ameriprise Financial Inc. raised its position in JBS by 23,891.7% during the third quarter. Ameriprise Financial Inc. now owns 6,583,073 shares of the company’s stock valued at $98,285,000 after purchasing an additional 6,555,634 shares in the last quarter. Finally, State Street Corp bought a new stake in JBS during the second quarter worth $84,109,000.

About JBS

JBS SA is a global leader in the production and processing of meat products, with a focus on beef, pork and poultry. Headquartered in São Paulo, Brazil, the company operates through an extensive network of owned facilities and partnerships that span the Americas, Europe and the Asia-Pacific region. JBS supplies fresh, frozen and value-added protein solutions for retail, foodservice and industrial customers, and is active across the entire supply chain—from livestock procurement and feed production to slaughtering, processing, packaging and distribution.

Founded in 1953 by José Batista Sobrinho in Anápolis, Goiás, JBS began as a small slaughterhouse and expanded rapidly through strategic acquisitions and organic growth.