JBS (NYSE:JBS) Cut to “Hold” at Zacks Research

JBS (NYSE:JBS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on JBS. Mizuho set a $20.00 price objective on JBS in a research report on Tuesday, October 28th. UBS Group raised JBS to a “strong-buy” rating in a research note on Friday, February 6th. Weiss Ratings raised shares of JBS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group set a $18.50 price target on shares of JBS in a research note on Wednesday, November 26th. Finally, Santander upgraded shares of JBS from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $19.40.

JBS Price Performance

JBS opened at $16.23 on Tuesday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.54 and a quick ratio of 0.76. The company’s 50 day simple moving average is $14.80 and its 200-day simple moving average is $14.47. JBS has a one year low of $12.37 and a one year high of $17.80.

Hedge Funds Weigh In On JBS

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in JBS during the 2nd quarter worth $29,000. Los Angeles Capital Management LLC acquired a new position in JBS in the fourth quarter valued at about $31,000. Quarry LP bought a new stake in shares of JBS in the third quarter worth about $34,000. Jones Financial Companies Lllp raised its position in shares of JBS by 489.1% during the third quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock worth $39,000 after purchasing an additional 2,206 shares during the period. Finally, MAI Capital Management acquired a new stake in shares of JBS during the second quarter worth about $44,000.

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.