JBS (NYSE:JBS) Given New $17.00 Price Target at Stephens

Key Points

• Stephens lowered its JBS price target to $17 from $18 while maintaining an “overweight” rating, implying 24.64% potential upside from the prior close.
• Analyst sentiment remains broadly positive, with JBS holding a consensus “Buy” rating and an average price target of $18.33, despite mixed recent revisions from other firms.
• JBS reported quarterly revenue of $23.90 billion, up 13.8% year over year, but earnings per share of $0.20 missed consensus estimates of $0.32.

JBS (NYSE:JBS - Get Free Report) had its target price dropped by equities research analysts at Stephens from $18.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Stephens' target price would suggest a potential upside of 24.64% from the stock's previous close.

Several other research analysts have also weighed in on the company. Zacks Research raised JBS from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings lowered JBS from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, July 29th. Wall Street Zen cut JBS from a "hold" rating to a "sell" rating in a research note on Saturday. Barclays dropped their price target on JBS from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Finally, UBS Group set a $17.00 price target on JBS in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.33.

JBS Price Performance

JBS stock opened at $13.64 on Monday. The stock's 50 day moving average is $12.55 and its 200 day moving average is $14.59. JBS has a one year low of $11.49 and a one year high of $18.65. The firm has a market cap of $10.59 billion, a P/E ratio of 13.37, a P/E/G ratio of 4.21 and a beta of -1.65. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.53 and a quick ratio of 0.77.

JBS (NYSE:JBS - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.12). JBS had a net margin of 1.22% and a return on equity of 12.00%. The firm had revenue of $23.90 billion for the quarter. JBS's quarterly revenue was up 13.8% on a year-over-year basis. As a group, research analysts expect that JBS will post 1.3 EPS for the current year.

Institutional Trading of JBS

Several large investors have recently made changes to their positions in JBS. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in JBS by 34.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 455,300 shares of the company's stock valued at $6,456,000 after purchasing an additional 117,500 shares during the last quarter. Spectrum Strategic Capital Management LLC purchased a new stake in shares of JBS in the fourth quarter worth approximately $1,204,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of JBS by 117.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,687,775 shares of the company's stock valued at $138,072,000 after purchasing an additional 4,147,304 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of JBS by 113.6% in the first quarter. Hsbc Holdings PLC now owns 189,000 shares of the company's stock valued at $3,375,000 after purchasing an additional 100,533 shares in the last quarter. Finally, Davis Selected Advisers purchased a new position in shares of JBS during the fourth quarter valued at approximately $170,945,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source