JBS (NYSE:JBS) Raised to Strong-Buy at Zacks Research

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

JBS has been the topic of a number of other reports. Mizuho set a $20.00 target price on JBS in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of JBS in a research report on Monday, December 29th. The Goldman Sachs Group set a $18.50 target price on shares of JBS in a research note on Wednesday, November 26th. Santander raised shares of JBS from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of JBS from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $19.38.

JBS Trading Up 0.8%

JBS opened at $14.43 on Monday. The stock has a 50 day simple moving average of $14.10. JBS has a 1-year low of $12.37 and a 1-year high of $17.80. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.76 and a current ratio of 1.54.

Hedge Funds Weigh In On JBS

A number of hedge funds and other institutional investors have recently modified their holdings of JBS. JPMorgan Chase & Co. purchased a new stake in JBS in the 2nd quarter worth $161,969,000. Banco BTG Pactual S.A. bought a new position in JBS during the third quarter valued at approximately $143,175,000. Ameriprise Financial Inc. grew its holdings in JBS by 23,891.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,583,073 shares of the company’s stock valued at $98,285,000 after buying an additional 6,555,634 shares in the last quarter. State Street Corp bought a new stake in JBS in the 2nd quarter worth approximately $84,109,000. Finally, Alberta Investment Management Corp boosted its position in shares of JBS by 205.9% during the 3rd quarter. Alberta Investment Management Corp now owns 4,234,300 shares of the company’s stock valued at $63,218,000 after acquiring an additional 2,850,000 shares during the last quarter.

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.