John Bean Technologies Corporation (NYSE:JBT) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of John Bean Technologies Corporation (NYSE:JBT) from a buy rating to a hold rating in a research report released on Thursday, November 2nd.

According to Zacks, “JOHN BEAN TECHNOLOGIES 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. “

A number of other research firms have also recently issued reports on JBT. BidaskClub cut shares of John Bean Technologies Corporation from a buy rating to a hold rating in a research note on Thursday, July 27th. Robert W. Baird set a $101.00 price target on shares of John Bean Technologies Corporation and gave the stock a buy rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $104.86.

Shares of John Bean Technologies Corporation (JBT) opened at $116.80 on Thursday. John Bean Technologies Corporation has a 12 month low of $80.55 and a 12 month high of $116.90. 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 company has a market cap of $3,614.51, a P/E ratio of 40.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.32.

John Bean Technologies Corporation (NYSE:JBT) last released its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $420.80 million during the quarter, compared to the consensus estimate of $414.17 million. John Bean Technologies Corporation had a net margin of 5.41% and a return on equity of 25.51%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. equities research analysts forecast that John Bean Technologies Corporation will post 3.06 EPS for the current fiscal year.

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In other John Bean Technologies Corporation news, EVP Steven R. Smith sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $86.78, for a total transaction of $867,800.00. Following the completion of the sale, the executive vice president now owns 50,811 shares in the company, valued at approximately $4,409,378.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.81% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. grew its stake in shares of John Bean Technologies Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,438 shares of the industrial products company’s stock worth $533,000 after acquiring an additional 14 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of John Bean Technologies Corporation 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. Aperio Group LLC boosted its holdings in shares of John Bean Technologies Corporation by 0.3% in the 2nd quarter. Aperio Group LLC now owns 13,510 shares of the industrial products company’s stock worth $1,324,000 after buying an additional 42 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of John Bean Technologies Corporation by 1.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 2,496 shares of the industrial products company’s stock worth $245,000 after buying an additional 47 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of John Bean Technologies Corporation by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the industrial products company’s stock worth $1,264,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 99.25% of the company’s stock.

About John Bean Technologies Corporation

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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Analyst Recommendations for John Bean Technologies Corporation (NYSE:JBT)

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