John Bean Technologies Corporation (JBT) Announces Earnings Results
John Bean Technologies Corporation (NYSE:JBT) issued its quarterly earnings results on Monday. The industrial products company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04, Bloomberg Earnings reports. John Bean Technologies Corporation had a net margin of 5.32% and a return on equity of 29.18%. The firm had revenue of $420.80 million during the quarter, compared to the consensus estimate of $414.17 million. During the same period in the prior year, the firm earned $0.69 EPS. The business’s revenue was up 20.4% on a year-over-year basis. John Bean Technologies Corporation updated its FY17 guidance to $3.00-3.10 EPS.
John Bean Technologies Corporation (JBT) traded up 0.10% during trading on Monday, hitting $104.05. 180,911 shares of the stock were exchanged. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 40.30 and a beta of 1.35. John Bean Technologies Corporation has a 52 week low of $71.85 and a 52 week high of $105.50. The firm has a 50-day moving average of $97.88 and a 200-day moving average of $91.74.
In related news, VP Megan J. Rattigan sold 3,103 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $87.27, for a total transaction of $270,798.81. Following the completion of the sale, the vice president now owns 26,091 shares of the company’s stock, valued at $2,276,961.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven R. Smith sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $86.78, for a total transaction of $867,800.00. Following the sale, the executive vice president now directly owns 50,811 shares of the company’s stock, valued at approximately $4,409,378.58. The disclosure for this sale can be found here. Insiders sold 15,103 shares of company stock worth $1,314,919 over the last 90 days. 1.81% of the stock is currently owned by corporate insiders.
A number of analysts have weighed in on JBT shares. BidaskClub raised shares of John Bean Technologies Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Robert W. Baird set a $101.00 price target on shares of John Bean Technologies Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research downgraded shares of John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $99.33.
John Bean Technologies Corporation Company Profile
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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