Zacks Research Upgrades JBS (NYSE:JBS) to “Hold”

JBS (NYSE:JBS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. UBS Group set a $17.00 target price on JBS in a research note on Tuesday, May 19th. JPMorgan Chase & Co. decreased their price target on JBS from $18.50 to $18.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Mizuho upgraded JBS to a “strong-buy” rating in a report on Friday, April 10th. Weiss Ratings downgraded JBS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Finally, Barclays reduced their target price on JBS from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $18.92.

JBS Price Performance

JBS stock opened at $11.84 on Monday. JBS has a 12 month low of $11.49 and a 12 month high of $18.65. The company has a current ratio of 1.50, a quick ratio of 0.77 and a debt-to-equity ratio of 2.42. The company has a 50-day moving average price of $12.76 and a 200 day moving average price of $14.82. The stock has a market cap of $9.18 billion and a PE ratio of 7.44.

JBS (NYSE:JBS) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). JBS had a net margin of 1.98% and a return on equity of 19.28%. The firm had revenue of $21.61 billion for the quarter. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that JBS will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On JBS

A number of institutional investors have recently modified their holdings of the stock. Rhumbline Advisers bought a new stake in shares of JBS during the second quarter valued at approximately $203,000. Arrowstreet Capital Limited Partnership bought a new position in JBS in the second quarter worth approximately $5,490,000. EverSource Wealth Advisors LLC bought a new position in JBS in the second quarter worth approximately $29,000. First Trust Advisors LP purchased a new position in JBS during the 2nd quarter worth $1,419,000. Finally, Marshall Wace LLP bought a new stake in JBS during the 2nd quarter valued at $5,206,000.

About JBS

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.