JBS (NYSE:JBS) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

JBS (NYSE:JBS) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a $18.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 32.50% from the stock’s previous close.

Several other brokerages have also weighed in on JBS. Wall Street Zen lowered JBS from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group set a $17.00 price target on JBS in a research note on Tuesday, May 19th. Barclays lowered their price target on JBS from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Zacks Research raised JBS from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Weiss Ratings lowered shares of JBS from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, JBS presently has a consensus rating of “Buy” and an average price target of $18.75.

JBS Price Performance

JBS stock opened at $13.59 on Tuesday. JBS has a 12-month low of $11.49 and a 12-month high of $18.65. The stock has a market cap of $10.54 billion and a P/E ratio of 8.54. The company has a 50-day moving average price of $12.26 and a 200 day moving average price of $14.69. The company has a current ratio of 1.50, a quick ratio of 0.77 and a debt-to-equity ratio of 2.42.

JBS (NYSE:JBS) last posted its earnings results on Tuesday, May 12th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $21.61 billion during the quarter. JBS had a net margin of 1.98% and a return on equity of 19.28%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that JBS will post 1.46 earnings per share for the current year.

Hedge Funds Weigh In On JBS

Several institutional investors have recently bought and sold shares of the company. Steadtrust LLC boosted its stake in shares of JBS by 8.2% in the second quarter. Steadtrust LLC now owns 191,130 shares of the company’s stock valued at $2,265,000 after purchasing an additional 14,500 shares during the period. Atlas Brown Inc. purchased a new stake in JBS during the 2nd quarter worth approximately $118,000. FNY Investment Advisers LLC increased its stake in JBS by 36.8% during the 2nd quarter. FNY Investment Advisers LLC now owns 17,790 shares of the company’s stock worth $210,000 after buying an additional 4,790 shares during the period. Assenagon Asset Management S.A. acquired a new stake in JBS during the 2nd quarter worth approximately $21,866,000. Finally, Confluence Investment Management LLC boosted its position in JBS by 17.3% in the 2nd quarter. Confluence Investment Management LLC now owns 19,326 shares of the company’s stock valued at $229,000 after buying an additional 2,845 shares during the period.

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.