Price Action To Observe: Is John Bean Technologies Corp a Buy? The Stock Reaches 52-Week High Today

Price Action To Observe: Is John Bean Technologies Corp a Buy? The Stock Reaches 52 Week High Today

The stock of John Bean Technologies Corp (NYSE:JBT) hit a new 52-week high and has $97.94 target or 6.00% above today’s $92.40 share price. The 9 months bullish chart indicates low risk for the $2.67B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $97.94 price target is reached, the company will be worth $160.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 96,284 shares traded hands. John Bean Technologies Corp (NYSE:JBT) has risen 63.08% since April 26, 2016 and is uptrending. It has outperformed by 57.82% the S&P500.

Analysts await John Bean Technologies Corp (NYSE:JBT) to report earnings on February, 28. They expect $0.67 EPS, down 4.29% or $0.03 from last year’s $0.7 per share. JBT’s profit will be $19.36M for 34.48 P/E if the $0.67 EPS becomes a reality. After $0.68 actual EPS reported by John Bean Technologies Corp for the previous quarter, Wall Street now forecasts -1.47% negative EPS growth.

John Bean Technologies Corp (NYSE:JBT) Ratings Coverage

Out of 2 analysts covering John Bean Technologies Corporation (NYSE:JBT), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. John Bean Technologies Corporation has been the topic of 2 analyst reports since April 19, 2016 according to StockzIntelligence Inc. BB&T Capital initiated John Bean Technologies Corp (NYSE:JBT) rating on Friday, June 17. BB&T Capital has “Buy” rating and $75 price target. The company was initiated on Tuesday, April 19 by William Blair.

According to Zacks Investment Research, “JOHN BEAN TECHNOLOGIES CORPORATION is a leading global solutions provider to the food processing and air transportation industries. The Company designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segments.”

Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.57, from 1.37 in 2016Q1. The ratio fall, as 17 funds sold all John Bean Technologies Corp shares owned while 64 reduced positions. 37 funds bought stakes while 74 increased positions. They now own 28.58 million shares or 3.13% less from 29.50 million shares in 2016Q1.
Parametric Portfolio reported 117,872 shares or 0.01% of all its holdings. Waddell & Reed has invested 0.01% of its portfolio in John Bean Technologies Corp (NYSE:JBT). Moreover, Bnp Paribas Arbitrage Sa has 0% invested in John Bean Technologies Corp (NYSE:JBT) for 9,461 shares. Ameriprise Fincl Inc last reported 204,062 shares in the company. Cap Guardian Trust accumulated 0% or 1,336 shares. The Germany-based Allianz Asset Management Ag has invested 0.01% in John Bean Technologies Corp (NYSE:JBT). Forward Mgmt Limited Co owns 23,111 shares or 0.12% of their US portfolio. King Luther Management holds 0.04% or 68,525 shares in its portfolio. Bridgeway Cap has 81,800 shares for 0.08% of their US portfolio. The Unknown-based Mckinley Capital Mgmt Limited Liability Delaware has invested 0% in John Bean Technologies Corp (NYSE:JBT). Ny State Teachers Retirement Sys last reported 0.02% of its portfolio in the stock. Pinebridge L P has invested 0.01% of its portfolio in John Bean Technologies Corp (NYSE:JBT). The Ohio-based Fifth Third Natl Bank has invested 0% in John Bean Technologies Corp (NYSE:JBT). The Texas-based Texas Permanent School Fund has invested 0.02% in John Bean Technologies Corp (NYSE:JBT). Keeley Asset Corporation holds 765,058 shares or 1.95% of its portfolio.

Insider Transactions: Since August 2, 2016, the stock had 0 buys, and 3 selling transactions for $785,688 net activity. 3,000 shares were sold by Smith Steven R, worth $199,500. Montague Mark K also sold $389,008 worth of John Bean Technologies Corp (NYSE:JBT) on Thursday, November 3.

JBT Company Profile

John Bean Technologies Corporation (JBT), incorporated on May 12, 1994, is a technology solutions well-known provider to the divisions of the food processing and air transportation industries. The Firm designs, makes, tests and services technological systems and products. The Firm operates through two divisions: JBT FoodTech and JBT AeroTech. JBT FoodTech markets its solutions and services to multinational and regional industrial food and beverage companies. The product offerings of its FoodTech businesses include Protein, Liquid Foods and Automated Systems. JBT AeroTech markets its solutions and services to domestic and international airport authorities, passenger airlines, airfreight and ground handling companies, military forces and defense contractors. The product offerings of its AeroTech businesses include Mobile Equipment, Fixed Equipment and Airport Services.

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