Barclays Issues Pessimistic Forecast for JBS (NYSE:JBS) Stock Price

JBS (NYSE:JBS) had its price objective decreased by Barclays from $23.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 46.49% from the company’s previous close.

JBS has been the topic of several other reports. UBS Group raised JBS to a “strong-buy” rating in a report on Friday, February 6th. Mizuho raised shares of JBS to a “strong-buy” rating in a report on Friday, April 10th. JPMorgan Chase & Co. lowered shares of JBS from an “overweight” rating to a “neutral” rating and set a $18.50 price target on the stock. in a research report on Thursday. Zacks Research downgraded shares of JBS from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of JBS in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.42.

JBS Trading Down 2.4%

Shares of JBS stock opened at $14.34 on Thursday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.91 and a current ratio of 1.60. The firm has a 50-day moving average of $16.49 and a 200-day moving average of $15.30. JBS has a 52-week low of $12.37 and a 52-week high of $18.65. The stock has a market cap of $11.12 billion and a PE ratio of 9.05.

JBS (NYSE:JBS) last announced its earnings results on Tuesday, May 12th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The business had revenue of $21.61 billion for the quarter. JBS had a return on equity of 19.09% and a net margin of 1.98%.The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that JBS will post 1.93 EPS for the current year.

Institutional Investors Weigh In On JBS

Several large investors have recently modified their holdings of JBS. Sei Investments Co. lifted its holdings in JBS by 52.9% in the first quarter. Sei Investments Co. now owns 171,490 shares of the company’s stock valued at $3,080,000 after buying an additional 59,296 shares during the period. Walleye Capital LLC bought a new position in shares of JBS in the 1st quarter worth about $363,000. Cetera Investment Advisers lifted its stake in shares of JBS by 3.2% in the 1st quarter. Cetera Investment Advisers now owns 42,083 shares of the company’s stock valued at $756,000 after purchasing an additional 1,292 shares during the period. NewEdge Wealth LLC boosted its position in shares of JBS by 18.5% during the 1st quarter. NewEdge Wealth LLC now owns 403,750 shares of the company’s stock valued at $7,251,000 after purchasing an additional 62,974 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in JBS by 5.4% during the first quarter. PNC Financial Services Group Inc. now owns 17,021 shares of the company’s stock worth $306,000 after purchasing an additional 867 shares during the period.

About JBS

JBS SA is a global leader in the production and processing of meat products, with a focus on beef, pork and poultry. Headquartered in São Paulo, Brazil, the company operates through an extensive network of owned facilities and partnerships that span the Americas, Europe and the Asia-Pacific region. JBS supplies fresh, frozen and value-added protein solutions for retail, foodservice and industrial customers, and is active across the entire supply chain—from livestock procurement and feed production to slaughtering, processing, packaging and distribution.

Founded in 1953 by José Batista Sobrinho in Anápolis, Goiás, JBS began as a small slaughterhouse and expanded rapidly through strategic acquisitions and organic growth.