JBS (NYSE:JBS) Stock Price Target Cut by JPMorgan Chase & Co.

JBS (NYSE:JBS) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $18.00 to $17.50 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 45.32% from the company’s previous close.

A number of other research analysts also recently issued reports on JBS. Weiss Ratings downgraded JBS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 15th. Zacks Research raised JBS from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Barclays lowered their target price on shares of JBS from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Stephens dropped their price target on shares of JBS from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Finally, Wall Street Zen lowered shares of JBS from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, JBS presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.42.

JBS Stock Down 3.4%

Shares of JBS stock traded down $0.43 during midday trading on Thursday, hitting $12.04. The company had a trading volume of 526,890 shares, compared to its average volume of 5,698,394. JBS has a 52-week low of $10.61 and a 52-week high of $18.65. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.77 and a current ratio of 1.53. The stock has a market capitalization of $9.35 billion, a P/E ratio of 11.66, a P/E/G ratio of 3.17 and a beta of -1.44. The company has a 50 day moving average of $12.71 and a 200 day moving average of $13.47.

JBS (NYSE:JBS) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.20 earnings per share (EPS) 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 company had revenue of $23.90 billion for the quarter. JBS’s revenue was up 13.8% on a year-over-year basis. On average, equities analysts predict that JBS will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JBS news, CFO Guilherme Cavalcanti sold 183,501 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $13.85, for a total value of $2,541,488.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted 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 valued at $2,632,000 after purchasing an additional 136,593 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of JBS in the second quarter worth $1,451,000. Hsbc Holdings PLC increased its stake in shares of JBS by 113.6% in the first quarter. Hsbc Holdings PLC now owns 189,000 shares of the company’s stock worth $3,375,000 after purchasing an additional 100,533 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of JBS by 117.1% during 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, IPG Investment Advisors LLC raised its position in shares of JBS by 71.3% during the 2nd quarter. IPG Investment Advisors LLC now owns 206,900 shares of the company’s stock valued at $2,452,000 after purchasing an additional 86,100 shares during the period.

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.