Jefferies Financial Group Initiates Coverage on John Bean Technologies (NYSE:JBT)

Jefferies Financial Group initiated coverage on shares of John Bean Technologies (NYSE:JBT) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $130.00 price target on the industrial products company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 5.78% from the stock’s previous close.

John Bean Technologies Stock Down 3.3 %

Shares of JBT opened at $122.90 on Thursday. The company has a market capitalization of $3.91 billion, a P/E ratio of 22.80, a PEG ratio of 1.74 and a beta of 1.24. John Bean Technologies has a one year low of $82.64 and a one year high of $128.23. The business’s 50 day simple moving average is $114.54 and its 200-day simple moving average is $100.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.55 and a quick ratio of 2.00.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $442.20 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts predict that John Bean Technologies will post 5.23 EPS for the current fiscal year.

Institutional Trading of John Bean Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its position in John Bean Technologies by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 8,900 shares of the industrial products company’s stock valued at $845,000 after buying an additional 150 shares during the last quarter. CWM LLC boosted its holdings in John Bean Technologies by 113.2% in the second quarter. CWM LLC now owns 324 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 172 shares during the last quarter. Louisiana State Employees Retirement System increased its position in John Bean Technologies by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the industrial products company’s stock worth $1,520,000 after purchasing an additional 200 shares during the period. Wrapmanager Inc. raised its holdings in John Bean Technologies by 6.2% during the 3rd quarter. Wrapmanager Inc. now owns 3,537 shares of the industrial products company’s stock worth $348,000 after purchasing an additional 206 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in John Bean Technologies by 6.4% during the 2nd quarter. Inspire Investing LLC now owns 3,648 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 218 shares during the period. Institutional investors and hedge funds own 98.92% of the company’s stock.

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.