Shares of John Bean Technologies Corp. (NYSE:JBT) gapped up before the market opened on Friday . The stock had previously closed at $60.46, but opened at $60.90. John Bean Technologies Corp. shares last traded at $62.69, with a volume of 50,530 shares trading hands.

JBT has been the topic of a number of research reports. William Blair initiated coverage on John Bean Technologies Corp. in a research report on Tuesday, April 19th. They set an “outperform” rating and a $70.00 price objective on the stock. Zacks Investment Research cut John Bean Technologies Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Finally, BB&T Corp. initiated coverage on John Bean Technologies Corp. in a research report on Friday, June 17th. They set a “buy” rating and a $75.00 price objective on the stock.

The company’s 50 day moving average is $61.10 and its 200 day moving average is $53.71. The company has a market cap of $1.83 billion and a price-to-earnings ratio of 35.32.

John Bean Technologies Corp. (NYSE:JBT) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. During the same period last year, the company posted $0.27 earnings per share. The company had revenue of $267.10 million for the quarter, compared to analyst estimates of $265.03 million. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts forecast that John Bean Technologies Corp. will post $2.27 earnings per share for the current year.

Other hedge funds and institutional investors recently modified their holdings of the company. California State Teachers Retirement System boosted its position in shares of John Bean Technologies Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 54,169 shares of the company’s stock valued at $2,699,000 after buying an additional 850 shares during the period. First Trust Advisors LP boosted its position in shares of John Bean Technologies Corp. by 7.6% in the fourth quarter. First Trust Advisors LP now owns 77,138 shares of the company’s stock valued at $3,844,000 after buying an additional 5,450 shares during the period. Rhumbline Advisers boosted its position in shares of John Bean Technologies Corp. by 7.9% in the fourth quarter. Rhumbline Advisers now owns 39,056 shares of the company’s stock valued at $1,946,000 after buying an additional 2,850 shares during the period. TD Asset Management Inc. boosted its position in shares of John Bean Technologies Corp. by 10.0% in the fourth quarter. TD Asset Management Inc. now owns 27,400 shares of the company’s stock valued at $1,365,000 after buying an additional 2,500 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of John Bean Technologies Corp. by 34.3% in the fourth quarter. California Public Employees Retirement System now owns 99,100 shares of the company’s stock valued at $4,938,000 after buying an additional 25,300 shares during the period.

John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.

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