JBS (NYSE:JBS) Shares Break Above 50-Day Moving Average - What's Next?

Key Points

• JBS shares rose 6.2% and moved above their 50-day moving average, trading near $12.96 versus the average of $12.45.
• Analysts have a Moderate Buy consensus and an average price target of $18.10, although recent recommendations range from Buy to Sell.
• In its latest reported quarter, JBS earned $0.20 per share, below the $0.32 consensus estimate, while revenue rose 13.8% year over year to $23.9 billion.

Jbs N.V. (NYSE:JBS - Get Free Report)'s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $12.45 and traded as high as $12.97. JBS shares last traded at $12.9560, with a volume of 6,151,370 shares changing hands.

Wall Street Analyst Weigh In

JBS has been the subject of a number of research reports. Stephens cut their target price on shares of JBS from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. UBS Group lifted their price target on JBS from $17.00 to $17.50 and gave the company a "buy" rating in a report on Monday, August 24th. Wall Street Zen lowered JBS from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Zacks Research upgraded shares of JBS from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. decreased their target price on JBS from $18.00 to $17.50 and set an "overweight" rating for the company in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, JBS has a consensus rating of "Moderate Buy" and an average price target of $18.10.

JBS Trading Up 6.2%

The business's 50-day moving average price is $12.45 and its 200 day moving average price is $14.06. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.53 and a quick ratio of 0.77. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 3.22 and a beta of -1.54.

JBS (NYSE:JBS - Get Free Report) last released its quarterly 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. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts forecast that Jbs N.V. will post 1.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JBS news, CFO Guilherme Cavalcanti sold 183,501 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $13.85, for a total transaction of $2,541,488.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On JBS

A number of institutional investors have recently modified their holdings of JBS. Wellington Management Group LLP grew its holdings in JBS by 159.8% during the second quarter. Wellington Management Group LLP now owns 222,086 shares of the company's stock worth $2,632,000 after acquiring an additional 136,593 shares during the period. Squarepoint Ops LLC bought a new stake in JBS in the second quarter worth about $1,451,000. Hsbc Holdings PLC lifted its holdings in JBS by 113.6% in the 1st quarter. Hsbc Holdings PLC now owns 189,000 shares of the company's stock valued at $3,375,000 after acquiring an additional 100,533 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in 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 acquiring an additional 4,147,304 shares during the last quarter. Finally, IPG Investment Advisors LLC lifted its holdings in JBS by 71.3% in the 2nd quarter. IPG Investment Advisors LLC now owns 206,900 shares of the company's stock valued at $2,452,000 after acquiring an additional 86,100 shares during the last quarter.

About JBS

JBS SA is a Brazil-based global food company engaged primarily in the processing and marketing of animal protein. Its operations include beef, pork, poultry and prepared foods, with products sold through retail, foodservice and industrial channels.

The company offers fresh and frozen meats, processed and ready-to-eat foods, and branded products marketed under names that include JBS, Swift, Friboi, Seara and Pilgrim's. JBS also has businesses involved in leather, collagen, animal by-products and other food-related products, supporting an integrated approach to the protein supply chain.

Founded in 1953 by José Batista Sobrinho in Anápolis, Brazil, JBS has expanded from a local beef processor into an international food company.

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