BidaskClub downgraded shares of John Bean Technologies Corporation (NYSE:JBT) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other brokerages also recently issued reports on JBT. Zacks Investment Research downgraded John Bean Technologies Corporation from a hold rating to a sell rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co assumed coverage on John Bean Technologies Corporation in a research note on Friday, June 2nd. They issued a neutral rating and a $88.00 target price for the company. CL King raised John Bean Technologies Corporation from a neutral rating to a buy rating and set a $103.00 target price for the company in a research note on Wednesday, April 12th. BMO Capital Markets reaffirmed an outperform rating and issued a $105.00 target price on shares of John Bean Technologies Corporation in a research note on Monday, April 10th. Finally, Bank of America Corporation assumed coverage on John Bean Technologies Corporation in a research note on Thursday, May 18th. They issued a neutral rating and a $89.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. John Bean Technologies Corporation presently has a consensus rating of Hold and an average price target of $99.86.

John Bean Technologies Corporation (NYSE JBT) opened at 90.60 on Friday. John Bean Technologies Corporation has a 52-week low of $64.28 and a 52-week high of $99.20. The company has a market cap of $2.87 billion, a PE ratio of 35.09 and a beta of 1.32. The firm’s 50-day moving average is $93.25 and its 200-day moving average is $88.83.

John Bean Technologies Corporation (NYSE:JBT) last issued its earnings results on Monday, July 31st. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. John Bean Technologies Corporation had a return on equity of 29.18% and a net margin of 5.32%. The business had revenue of $386.10 million during the quarter, compared to the consensus estimate of $381.49 million. During the same period last year, the company earned $0.67 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts anticipate that John Bean Technologies Corporation will post $3.03 EPS for the current year.

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Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of John Bean Technologies Corporation by 30,340.7% in the first quarter. BlackRock Inc. now owns 3,715,900 shares of the industrial products company’s stock worth $326,813,000 after buying an additional 3,703,693 shares during the last quarter. Columbus Circle Investors increased its stake in shares of John Bean Technologies Corporation by 153.8% in the first quarter. Columbus Circle Investors now owns 392,705 shares of the industrial products company’s stock worth $34,538,000 after buying an additional 237,968 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of John Bean Technologies Corporation by 86.3% in the first quarter. Conestoga Capital Advisors LLC now owns 240,846 shares of the industrial products company’s stock worth $21,182,000 after buying an additional 111,586 shares during the last quarter. Norges Bank acquired a new stake in shares of John Bean Technologies Corporation during the fourth quarter worth about $17,171,000. Finally, Swiss National Bank increased its stake in shares of John Bean Technologies Corporation by 6.9% in the first quarter. Swiss National Bank now owns 51,400 shares of the industrial products company’s stock worth $4,521,000 after buying an additional 3,300 shares during the last quarter. 99.25% of the stock is owned by hedge funds and other institutional investors.

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.

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

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