JBS (NYSE:JBS) Price Target Cut to $20.00 by Analysts at Barclays

Key Points

• Barclays cut its price target on JBS from $21.00 to $20.00, while keeping an "overweight" rating. The new target still implies significant upside from the stock’s previous close.
• JBS shares were trading around $12.07 and were up 2.1% on Thursday, well below the analysts’ average target price of $18.75. The stock remains near its 1-year low of $11.49.
• The company recently reported mixed quarterly results, with EPS of $0.20 missing expectations of $0.28 even as revenue rose 10.7% year over year to $21.61 billion. Analysts currently expect full-year earnings of $1.45 per share.

JBS (NYSE:JBS - Get Free Report) had its price target lowered by equities research analysts at Barclays from $21.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 65.63% from the company's previous close.

Several other research analysts have also issued reports on JBS. Zacks Research upgraded shares of JBS from a "strong sell" rating to a "hold" rating in a research report on Monday. Weiss Ratings downgraded JBS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, June 29th. UBS Group set a $17.00 price target on shares of JBS in a research report on Tuesday, May 19th. JPMorgan Chase & Co. lowered their price objective on shares of JBS from $18.50 to $18.00 and set an "overweight" rating for the company in a report on Monday, June 29th. Finally, Mizuho raised shares of JBS to a "strong-buy" rating in a report on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, JBS currently has an average rating of "Buy" and an average target price of $18.75.

JBS Stock Up 2.1%

JBS stock opened at $12.07 on Thursday. The firm has a 50 day simple moving average of $12.66 and a 200 day simple moving average of $14.80. The company has a current ratio of 1.50, a quick ratio of 0.77 and a debt-to-equity ratio of 2.42. JBS has a 1-year low of $11.49 and a 1-year high of $18.65. The firm has a market capitalization of $9.37 billion and a price-to-earnings ratio of 7.59.

JBS (NYSE:JBS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.20 earnings per share 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 company had revenue of $21.61 billion during the quarter. JBS's revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that JBS will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On JBS

Institutional investors and hedge funds have recently modified their holdings of the stock. BNDES Participacoes S.A. bought a new position in JBS in the fourth quarter worth about $2,874,074,000. Davis Selected Advisers purchased a new position in shares of JBS during the 4th quarter worth approximately $170,945,000. Banco BTG Pactual S.A. bought a new position in shares of JBS in the 3rd quarter worth approximately $143,175,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of JBS by 117.1% in the 1st 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 during the period. Finally, Ameriprise Financial Inc. grew its stake in JBS by 23,891.7% in the third 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 period.

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.

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