Brokerages Set John Bean Technologies Co. (NYSE:JBT) Target Price at $121.00

John Bean Technologies Co. (NYSE:JBT) has been given an average recommendation of “Moderate Buy” by the two analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $121.00.

Separately, William Blair reaffirmed a “market perform” rating on shares of John Bean Technologies in a research report on Thursday, May 2nd.

John Bean Technologies Trading Down 2.1 %

John Bean Technologies stock opened at $94.97 on Wednesday. The company has a 50 day moving average price of $94.18 and a 200 day moving average price of $97.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 2.37. John Bean Technologies has a 52 week low of $88.03 and a 52 week high of $125.88. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 5.07, a P/E/G ratio of 1.46 and a beta of 1.31.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $392.30 million during the quarter, compared to analysts’ expectations of $396.55 million. John Bean Technologies had a net margin of 36.12% and a return on equity of 10.56%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. Research analysts forecast that John Bean Technologies will post 5.15 EPS for the current year.

John Bean Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Wednesday, May 22nd. John Bean Technologies’s payout ratio is 2.13%.

Institutional Investors Weigh In On John Bean Technologies

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of John Bean Technologies in the fourth quarter valued at approximately $35,164,000. P2 Capital Partners LLC boosted its holdings in John Bean Technologies by 39.0% in the 4th quarter. P2 Capital Partners LLC now owns 556,442 shares of the industrial products company’s stock valued at $55,338,000 after purchasing an additional 156,241 shares during the period. Assenagon Asset Management S.A. acquired a new stake in John Bean Technologies in the 4th quarter worth $12,594,000. Bamco Inc. NY raised its holdings in John Bean Technologies by 23.8% in the 1st quarter. Bamco Inc. NY now owns 650,000 shares of the industrial products company’s stock valued at $68,178,000 after acquiring an additional 125,000 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its position in shares of John Bean Technologies by 7.8% during the first quarter. Champlain Investment Partners LLC now owns 1,545,159 shares of the industrial products company’s stock valued at $162,072,000 after purchasing an additional 112,035 shares during the period. 98.92% of the stock is currently owned by institutional investors.

About John Bean Technologies

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.