JBS (NYSE:JBS) Given New $18.00 Price Target at JPMorgan Chase & Co.

JBS (NYSE:JBS) had its price objective cut by JPMorgan Chase & Co. from $18.50 to $18.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 48.33% from the company’s current price.

A number of other equities analysts also recently issued reports on JBS. UBS Group set a $17.00 price objective on shares of JBS in a report on Tuesday, May 19th. Mizuho upgraded shares of JBS to a “strong-buy” rating in a research report on Friday, April 10th. Zacks Research downgraded shares of JBS from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 11th. Weiss Ratings cut JBS from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Finally, Barclays lowered their target price on JBS from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.92.

JBS Stock Performance

JBS stock traded down $0.09 during mid-day trading on Monday, reaching $12.13. 2,505,001 shares of the stock traded hands, compared to its average volume of 5,849,999. JBS has a 12-month low of $11.49 and a 12-month high of $18.65. The business’s 50-day moving average is $13.92 and its 200-day moving average is $15.02. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.50 and a quick ratio of 0.77. The stock has a market capitalization of $9.42 billion and a PE ratio of 7.63.

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

Hedge Funds Weigh In On JBS

Large investors have recently made changes to their positions in the business. Global Trust Asset Management LLC bought a new stake in JBS during the 1st quarter valued at approximately $34,000. EverSource Wealth Advisors LLC bought a new position in JBS in the 2nd quarter worth approximately $29,000. Los Angeles Capital Management LLC bought a new position in JBS in the 4th quarter worth approximately $31,000. Quarry LP purchased a new stake in JBS during the 3rd quarter valued at approximately $34,000. Finally, Rockefeller Capital Management L.P. grew its holdings in JBS by 50.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,757 shares of the company’s stock valued at $54,000 after buying an additional 1,257 shares in the last quarter.

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.