JBT Marel (NYSE:JBTM) Share Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• JBT Marel shares rose above their 50-day moving average, reaching $117.37 and last trading near $115.65, compared with a 50-day average of $110.92.
• Analyst sentiment remains positive, with five Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $165.20, despite some target reductions.
• The company’s latest quarterly results fell slightly short of expectations, reporting $1.95 in EPS versus a $2.02 estimate. JBT Marel also pays a $0.40 annualized dividend, yielding approximately 0.3%, while institutional investors own 98.92% of outstanding shares.

Shares of JBT Marel Corporation (NYSE:JBTM - Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $110.92 and traded as high as $117.37. JBT Marel shares last traded at $115.6490, with a volume of 869,388 shares.

Analysts Set New Price Targets

JBTM has been the topic of several research analyst reports. Robert W. Baird lowered their price target on shares of JBT Marel from $188.00 to $171.00 and set an "outperform" rating on the stock in a report on Thursday, September 24th. KeyCorp began coverage on JBT Marel in a report on Tuesday, August 25th. They set an "overweight" rating and a $150.00 price objective for the company. Barclays initiated coverage on JBT Marel in a research report on Tuesday, September 8th. They issued an "overweight" rating and a $150.00 target price on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of JBT Marel in a research note on Wednesday, September 2nd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, JBT Marel presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.20.

JBT Marel Price Performance

The company has a quick ratio of 0.70, a current ratio of 1.24 and a debt-to-equity ratio of 0.37. The company's 50 day moving average is $110.92 and its 200 day moving average is $131.05. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 1.19 and a beta of 0.94.

JBT Marel (NYSE:JBTM - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $2.02 by ($0.07). The business had revenue of $981.00 million for the quarter. JBT Marel had a return on equity of 8.75% and a net margin of 4.89%. On average, equities research analysts anticipate that JBT Marel Corporation will post 8.04 earnings per share for the current fiscal year.

JBT Marel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, August 17th. JBT Marel's dividend payout ratio is presently 10.90%.

Institutional Investors Weigh In On JBT Marel

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in JBT Marel during the second quarter worth $1,150,221,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of JBT Marel by 8.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,818,441 shares of the company's stock valued at $263,674,000 after purchasing an additional 143,049 shares in the last quarter. Bamco Inc. NY bought a new position in shares of JBT Marel in the 2nd quarter valued at $95,781,000. Bank of America Corp DE increased its stake in shares of JBT Marel by 2.3% in the 1st quarter. Bank of America Corp DE now owns 466,741 shares of the company's stock valued at $59,682,000 after purchasing an additional 10,714 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of JBT Marel in the 2nd quarter valued at $67,480,000. 98.92% of the stock is currently owned by institutional investors and hedge funds.

About JBT Marel

JBT Marel Corporation NYSE: JBTM is a global food processing technology company formed through the combination of JBT Corporation and Marel. The company develops, manufactures and services equipment, integrated production lines and software used throughout the food industry, from primary processing to packaging and related automation.

Its products and solutions support the processing of poultry, meat, fish, prepared foods, pet food, plant-based products, fruits and vegetables, and other food categories.

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