John Bean Technologies (NYSE:JBT – Get Rating) had its target price reduced by stock analysts at Robert W. Baird from $117.00 to $110.00 in a research report issued on Thursday, The Fly reports. Robert W. Baird’s target price indicates a potential upside of 23.90% from the stock’s current price.
A number of other equities analysts also recently commented on the stock. StockNews.com began coverage on shares of John Bean Technologies in a report on Wednesday, October 12th. They issued a “hold” rating for the company. William Blair downgraded shares of John Bean Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday.
John Bean Technologies Trading Down 5.7 %
Shares of NYSE JBT traded down $5.35 during mid-day trading on Thursday, reaching $88.78. The company had a trading volume of 517,827 shares, compared to its average volume of 194,814. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.35 and a beta of 1.42. The business’s 50-day moving average is $97.07 and its 200-day moving average is $108.07. John Bean Technologies has a 52 week low of $81.59 and a 52 week high of $177.56.
John Bean Technologies (NYSE:JBT – Get Rating) last issued its earnings results on Wednesday, July 27th. The industrial products company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). The firm had revenue of $542.30 million for the quarter, compared to the consensus estimate of $552.27 million. John Bean Technologies had a net margin of 6.04% and a return on equity of 16.69%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. Equities analysts expect that John Bean Technologies will post 4.93 earnings per share for the current year.
Insider Activity
In other news, Director Caroline Maury Devine sold 300 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $89.78, for a total value of $26,934.00. Following the transaction, the director now directly owns 47,049 shares in the company, valued at approximately $4,224,059.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 900 shares of company stock valued at $91,827 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Institutional Trading of John Bean Technologies
Large investors have recently made changes to their positions in the stock. CI Investments Inc. lifted its position in shares of John Bean Technologies by 32.8% during the first quarter. CI Investments Inc. now owns 65,469 shares of the industrial products company’s stock worth $7,756,000 after purchasing an additional 16,165 shares in the last quarter. Duality Advisers LP bought a new position in shares of John Bean Technologies during the first quarter worth about $225,000. Maryland State Retirement & Pension System boosted its position in shares of John Bean Technologies by 1.1% during the second quarter. Maryland State Retirement & Pension System now owns 12,880 shares of the industrial products company’s stock worth $1,422,000 after buying an additional 141 shares during the period. Truist Financial Corp raised its stake in shares of John Bean Technologies by 10.9% during the first quarter. Truist Financial Corp now owns 12,021 shares of the industrial products company’s stock valued at $1,424,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its position in shares of John Bean Technologies by 1.3% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,098,567 shares of the industrial products company’s stock worth $130,147,000 after buying an additional 14,379 shares in the last quarter.
About John Bean Technologies
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.