JBS (NYSE:JBS) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of JBS (NYSE:JBS) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of JBS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Barclays cut their price objective on shares of JBS from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. JPMorgan Chase & Co. lowered their target price on JBS from $18.50 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. UBS Group set a $17.00 price target on JBS in a report on Tuesday, May 19th. Finally, Mizuho upgraded JBS to a “strong-buy” rating in a research report on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, JBS presently has an average rating of “Buy” and a consensus price target of $18.92.

JBS Trading Up 0.3%

Shares of NYSE:JBS opened at $11.84 on Monday. The stock’s 50-day simple moving average is $12.76 and its two-hundred day simple moving average is $14.82. The stock has a market capitalization of $9.18 billion and a price-to-earnings ratio of 7.44. JBS has a 52-week low of $11.49 and a 52-week high of $18.65. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.77 and a current ratio of 1.50.

JBS (NYSE:JBS) last released 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). JBS had a net margin of 1.98% and a return on equity of 19.28%. The business had revenue of $21.61 billion for the quarter. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts expect that JBS will post 1.45 EPS for the current year.

Institutional Investors Weigh In On JBS

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNDES Participacoes S.A. purchased a new position in shares of JBS in the fourth quarter valued at about $2,874,074,000. Davis Selected Advisers purchased a new stake in shares of JBS during the fourth quarter worth about $170,945,000. Banco BTG Pactual S.A. bought a new stake in JBS during the 3rd quarter valued at approximately $143,175,000. Ameriprise Financial Inc. raised its stake 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 purchasing an additional 6,555,634 shares during the period. Finally, State Street Corp purchased a new position in JBS in the 2nd quarter worth approximately $84,109,000.

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.