JBS (NYSE:JBS) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded JBS from a "hold" to a "strong sell", even as other firms have recently upgraded the stock and MarketBeat's consensus remains a Buy with a $20.00 price target.
• JBS posted a significant earnings miss—$0.39 EPS versus analysts' $2.25 estimate—while revenue rose 15.5% year-over-year to $23.06 billion.
• Shares trade around $17.78 (50-/200-day MAs: $16.39/$14.90) with a market cap of ~$13.75B and a P/E of 12.34, and large institutional inflows were reported (notably BNDES's ~$2.87B position and sizeable purchases by Davis Selected and Ameriprise).

JBS (NYSE:JBS - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

JBS has been the topic of a number of other reports. Weiss Ratings raised JBS from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, February 4th. Mizuho upgraded JBS to a "strong-buy" rating in a report on Friday, April 10th. Barclays boosted their price target on JBS from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Friday, March 27th. Finally, UBS Group upgraded JBS to a "strong-buy" rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, JBS currently has a consensus rating of "Buy" and a consensus price target of $20.00.

JBS Stock Performance

Shares of JBS opened at $17.78 on Tuesday. The business's 50 day moving average is $16.39 and its two-hundred day moving average is $14.90. JBS has a 52-week low of $12.37 and a 52-week high of $18.65. The firm has a market cap of $13.75 billion and a price-to-earnings ratio of 12.34. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 2.28.

JBS (NYSE:JBS - Get Free Report) last announced its earnings results on Wednesday, March 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($1.86). The business had revenue of $23.06 billion during the quarter. JBS's revenue for the quarter was up 15.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNDES Participacoes S.A. acquired a new position in JBS during the 4th quarter valued at approximately $2,874,074,000. Davis Selected Advisers acquired a new position in JBS during the 4th quarter valued at approximately $170,945,000. Banco BTG Pactual S.A. acquired a new position in JBS during the 3rd quarter valued at approximately $143,175,000. Ameriprise Financial Inc. boosted its position 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 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.

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