In a report released yesterday, Andrew Obin from Bank of America Securities maintained a Sell rating on John Bean Technologies (JBT – Research Report), with a price target of $85.00. The company’s shares closed yesterday at $120.54.
Obin covers the Industrials sector, focusing on stocks such as 3M, Rockwell Automation, and General Electric. According to TipRanks, Obin has an average return of 9.8% and a 60.63% success rate on recommended stocks.
The word on The Street in general, suggests a Hold analyst consensus rating for John Bean Technologies with a $106.50 average price target.
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Based on John Bean Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $529.5 million and a net profit of $25.6 million. In comparison, last year the company earned a revenue of $469.2 million and had a net profit of $25.6 million
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John Bean Technologies Corp. is a technology solutions provider, which engages in the food, beverage, and air transportation industries. It operates through the JBT FoodTech and JBT AeroTech business segments. The JBT FoodTech segment designs, manufactures, and services technologically food processing systems for the preparation of meat, seafood and poultry products, ready-to-eat meals, shelf stable packaged foods, bakery products, juice and dairy products, and fruit and vegetable products. The JBT AeroTech segment supplies customized solutions and services used for applications in the air transportation industry, including airport authorities, airlines, airfreight, ground handling companies, the military, and defense contractors. The company was founded on May 12, 1994 and is headquartered in Chicago, IL.
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