JPMorgan Chase & Co. Forecasts Strong Price Appreciation for JBS (NYSE:JBS) Stock

Key Points

• JPMorgan Chase & Co. raised its price target on JBS from $20.00 to $20.50 and kept an "overweight" rating, implying about a 24% upside from the recent ~$16.54 share price.
• Analyst sentiment is mixed but skewed positive: two firms rate JBS "Strong Buy," six "Buy" and one "Sell," yielding an average rating of "Buy" and an average target of $20.08.
• JBS reported quarterly EPS of $0.39 versus consensus $2.25 (a $1.86 miss) while revenue rose 15.5% to $23.06 billion; the stock trades at a PE of 11.46 with a market cap near $12.8 billion.

JBS (NYSE:JBS - Get Free Report) had its price target boosted by analysts at JPMorgan Chase & Co. from $20.00 to $20.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 23.98% from the company's current price.

JBS has been the subject of a number of other reports. UBS Group raised shares of JBS to a "strong-buy" rating in a report on Friday, February 6th. Weiss Ratings raised JBS from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 4th. Barclays boosted their target price on JBS from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, March 27th. Zacks Research downgraded JBS from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 14th. Finally, Mizuho upgraded shares of JBS to a "strong-buy" rating in a research report on Friday, April 10th. 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, the company currently has an average rating of "Buy" and an average target price of $20.08.

JBS Price Performance

JBS stock traded down $0.33 during midday trading on Friday, reaching $16.54. The company's stock had a trading volume of 1,823,537 shares, compared to its average volume of 4,581,070. The firm has a market capitalization of $12.79 billion and a PE ratio of 11.46. JBS has a fifty-two week low of $12.37 and a fifty-two week high of $18.65. The stock's 50 day simple moving average is $16.58 and its 200 day simple moving average is $15.02. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.91 and a current ratio of 1.60.

JBS (NYSE:JBS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($1.86). The firm had revenue of $23.06 billion for the quarter. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities research analysts forecast that JBS will post 1.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Steadtrust LLC raised its position in JBS by 0.5% in the fourth quarter. Steadtrust LLC now owns 173,630 shares of the company's stock valued at $2,504,000 after purchasing an additional 800 shares during the period. Capital Research Global Investors boosted its stake in shares of JBS by 0.6% during the 3rd quarter. Capital Research Global Investors now owns 145,352 shares of the company's stock valued at $2,186,000 after buying an additional 839 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in JBS by 7.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 13,003 shares of the company's stock worth $188,000 after acquiring an additional 908 shares in the last quarter. Dodge & Cox grew its stake in JBS by 6.3% in the fourth quarter. Dodge & Cox now owns 16,950 shares of the company's stock worth $244,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of JBS by 41.9% during the 4th quarter. Farther Finance Advisors LLC now owns 4,142 shares of the company's stock valued at $60,000 after acquiring an additional 1,223 shares in the last quarter.

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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