JBS (NYSE:JBS) Price Target Lowered to $18.00 at JPMorgan Chase & Co.

JBS (NYSE:JBS) had its target price reduced by JPMorgan Chase & Co. from $18.50 to $18.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 48.33% from the company’s current price.

JBS has been the subject of a number of other reports. Barclays dropped their price target on JBS from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Zacks Research cut JBS from a “hold” rating to a “strong sell” rating in a report on Thursday, June 11th. UBS Group set a $17.00 target price on JBS in a research report on Tuesday, May 19th. Mizuho raised shares of JBS to a “strong-buy” rating in a report on Friday, April 10th. Finally, Weiss Ratings cut shares of JBS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.92.

JBS Price Performance

JBS stock traded down $0.09 during mid-day trading on Monday, hitting $12.13. The company had a trading volume of 2,505,001 shares, compared to its average volume of 5,849,999. The company has a market capitalization of $9.42 billion and a price-to-earnings ratio of 7.63. JBS has a 12-month low of $11.49 and a 12-month high of $18.65. The company has a quick ratio of 0.77, a current ratio of 1.50 and a debt-to-equity ratio of 2.42. The company has a 50-day moving average price of $13.92 and a 200 day moving average price of $15.02.

JBS (NYSE:JBS) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). JBS had a net margin of 1.98% and a return on equity of 19.28%. The company had revenue of $21.61 billion for the quarter. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, research analysts anticipate that JBS will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On JBS

Several large investors have recently modified their holdings of JBS. BNDES Participacoes S.A. purchased a new stake in JBS during the 4th quarter valued at $2,874,074,000. Davis Selected Advisers purchased a new position in JBS during the fourth quarter worth $170,945,000. Banco BTG Pactual S.A. bought a new position in JBS during the third quarter valued at $143,175,000. Ameriprise Financial Inc. increased its position in JBS by 23,891.7% during the third quarter. Ameriprise Financial Inc. now owns 6,583,073 shares of the company’s stock valued at $98,285,000 after acquiring an additional 6,555,634 shares during the last quarter. Finally, State Street Corp purchased a new stake in shares of JBS in the second quarter valued at $84,109,000.

JBS Company Profile

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.