John Bean Technologies (NYSE:JBT) Hits New 1-Year Low at $88.03

Shares of John Bean Technologies Co. (NYSE:JBT) hit a new 52-week low on Thursday . The company traded as low as $88.03 and last traded at $89.06, with a volume of 76218 shares. The stock had previously closed at $88.84.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reiterated an “outperform” rating and issued a $121.00 target price on shares of John Bean Technologies in a report on Monday, January 22nd. One analyst has rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

John Bean Technologies Price Performance

The firm has a market capitalization of $2.85 billion, a P/E ratio of 4.71, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.78 and a current ratio of 2.27. The business has a 50 day simple moving average of $97.83 and a two-hundred day simple moving average of $100.22.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. John Bean Technologies had a return on equity of 12.15% and a net margin of 33.53%. The business had revenue of $392.30 million during the quarter, compared to analysts’ expectations of $396.55 million. During the same quarter last year, the business posted $0.94 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts expect that John Bean Technologies Co. will post 5.1 EPS for the current fiscal year.

John Bean Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, March 8th. John Bean Technologies’s payout ratio is 2.12%.

Hedge Funds Weigh In On John Bean Technologies

Several institutional investors and hedge funds have recently bought and sold shares of JBT. Victory Capital Management Inc. raised its holdings in shares of John Bean Technologies by 109.9% in the third quarter. Victory Capital Management Inc. now owns 826,544 shares of the industrial products company’s stock worth $86,903,000 after buying an additional 432,822 shares during the period. Norges Bank acquired a new stake in shares of John Bean Technologies in the 4th quarter worth $35,164,000. P2 Capital Partners LLC boosted its position in shares of 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 worth $55,338,000 after purchasing an additional 156,241 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in John Bean Technologies in the 4th quarter worth $12,594,000. Finally, 2Xideas AG purchased a new position in John Bean Technologies in the 3rd quarter worth $10,714,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

John Bean Technologies Company Profile

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.