JBS (NYSE:JBS) Downgraded to Neutral Rating by JPMorgan Chase & Co.

JBS (NYSE:JBS) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports. They presently have a $18.50 price target on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 26.05% from the stock’s previous close.

JBS has been the topic of several other reports. Zacks Research downgraded JBS from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Weiss Ratings restated a “buy (b-)” rating on shares of JBS in a report on Monday, May 4th. Barclays increased their price objective on shares of JBS from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. UBS Group raised shares of JBS to a “strong-buy” rating in a research report on Friday, February 6th. Finally, Mizuho upgraded shares of JBS to a “strong-buy” rating in a research note on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

JBS Stock Performance

Shares of JBS stock opened at $14.68 on Thursday. JBS has a one year low of $12.37 and a one year high of $18.65. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.91 and a current ratio of 1.60. The company has a 50 day moving average price of $16.49 and a 200 day moving average price of $15.30. The firm has a market capitalization of $11.39 billion and a price-to-earnings ratio of 9.23.

JBS (NYSE:JBS) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $21.61 billion for the quarter. JBS had a return on equity of 19.09% and a net margin of 1.98%.The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that JBS will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JBS. BNDES Participacoes S.A. acquired a new position in JBS in the fourth quarter valued at approximately $2,874,074,000. Davis Selected Advisers acquired a new stake in shares of JBS during the 4th quarter worth approximately $170,945,000. Banco BTG Pactual S.A. acquired a new stake in shares of JBS during the 3rd quarter worth approximately $143,175,000. Ameriprise Financial Inc. lifted its holdings in shares of JBS by 23,891.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,583,073 shares of the company’s stock worth $98,285,000 after purchasing an additional 6,555,634 shares during the last quarter. Finally, State Street Corp boosted its position in JBS by 5.6% during the 4th quarter. State Street Corp now owns 6,138,536 shares of the company’s stock valued at $88,518,000 after purchasing an additional 327,364 shares during the period.

JBS Company Profile

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.