JBS (NYSE:JBS) Shares Up 8% – Here’s What Happened

Jbs N.V. (NYSE:JBS) was up 8% during mid-day trading on Monday . The stock traded as high as $13.22 and last traded at $13.2570. Approximately 2,437,500 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 5,654,051 shares. The stock had previously closed at $12.28.

Analyst Upgrades and Downgrades

Several analysts have weighed in on JBS shares. Wall Street Zen downgraded JBS from a “hold” rating to a “sell” rating in a research note on Saturday. Mizuho raised JBS to a “strong-buy” rating in a report on Friday, April 10th. JPMorgan Chase & Co. dropped their price objective on shares of JBS from $18.50 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Zacks Research upgraded shares of JBS from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, UBS Group set a $17.00 target price on shares of JBS in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, JBS currently has an average rating of “Buy” and a consensus price target of $18.75.

JBS Stock Performance

The firm has a fifty day moving average of $12.25 and a 200 day moving average of $14.69. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.50 and a quick ratio of 0.77. The stock has a market capitalization of $10.46 billion and a price-to-earnings ratio of 8.48.

JBS (NYSE:JBS) last announced its quarterly 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). JBS had a net margin of 1.98% and a return on equity of 19.28%. The company had revenue of $21.61 billion during the quarter. JBS’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Jbs N.V. will post 1.46 earnings per share for the current fiscal year.

Institutional Trading of JBS

A number of hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in JBS during the second quarter valued at $29,000. Los Angeles Capital Management LLC purchased a new stake in shares of JBS during the 4th quarter worth about $31,000. Global Trust Asset Management LLC acquired a new stake in shares of JBS during the 1st quarter valued at about $34,000. Quarry LP acquired a new stake in shares of JBS during the 3rd quarter valued at about $34,000. Finally, Rockefeller Capital Management L.P. increased its stake in shares of JBS by 50.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,757 shares of the company’s stock valued at $54,000 after purchasing an additional 1,257 shares in the last quarter.

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.