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

Key Points

• Zacks Research upgraded JBS from “strong sell” to “hold”, signaling a more neutral view on the stock.
• Analyst sentiment is still mixed overall: JBS carries an average “Buy” rating with a consensus target price of $18.92, while several firms have recently adjusted their ratings or price targets.
• JBS shares were up 0.3% and opened at $11.84; the company also recently reported quarterly earnings of $0.20 per share, missing estimates despite 10.7% revenue growth year over year.

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

JBS has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of JBS from $18.50 to $18.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Mizuho raised shares of JBS to a "strong-buy" rating in a research note on Friday, April 10th. UBS Group set a $17.00 target price on shares of JBS in a report on Tuesday, May 19th. Weiss Ratings lowered shares of JBS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, June 29th. Finally, Barclays dropped their price target on JBS from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, JBS presently has an average rating of "Buy" and a consensus target price of $18.92.

JBS Stock Up 0.3%

JBS opened at $11.84 on Monday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.77 and a current ratio of 1.50. The company has a market capitalization of $9.18 billion and a PE ratio of 7.44. The stock's fifty day moving average is $12.76 and its 200-day moving average is $14.82. JBS has a one year low of $11.49 and a one year high of $18.65.

JBS (NYSE:JBS - Get Free Report) last announced its 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). The firm had revenue of $21.61 billion for the quarter. JBS had a net margin of 1.98% and a return on equity of 19.28%. The firm's revenue was up 10.7% on a year-over-year basis. On average, equities analysts predict that JBS will post 1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Global Trust Asset Management LLC purchased a new stake in shares of JBS in the 1st quarter valued at approximately $34,000. EverSource Wealth Advisors LLC acquired a new position in JBS in the 2nd quarter worth approximately $29,000. Los Angeles Capital Management LLC purchased a new position in JBS during the 4th quarter worth approximately $31,000. Quarry LP purchased a new position in JBS during the 3rd quarter worth approximately $34,000. Finally, Rockefeller Capital Management L.P. raised its stake in JBS by 50.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,757 shares of the company's stock valued at $54,000 after purchasing an additional 1,257 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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