Zacks Research Downgrades JBS (NYSE:JBS) to Strong Sell

JBS (NYSE:JBS) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

JBS has been the topic of a number of other reports. UBS Group set a $17.00 price target on JBS in a research note on Tuesday, May 19th. JPMorgan Chase & Co. lowered JBS from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $20.50 to $18.50 in a research note on Thursday, May 14th. Weiss Ratings lowered JBS from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 1st. Barclays decreased their price target on JBS from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Finally, Mizuho raised JBS to a “strong-buy” rating in a research note on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, JBS has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

JBS Stock Up 2.7%

Shares of NYSE:JBS opened at $12.52 on Thursday. The stock’s 50-day moving average price is $15.09 and its two-hundred day moving average price is $15.19. The company has a current ratio of 1.50, a quick ratio of 0.77 and a debt-to-equity ratio of 2.42. JBS has a 12-month low of $11.49 and a 12-month high of $18.65. The firm has a market cap of $9.72 billion and a price-to-earnings ratio of 7.88.

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

Institutional Investors Weigh In On JBS

Several hedge funds have recently modified their holdings of JBS. Rhumbline Advisers purchased a new stake in shares of JBS during the 2nd quarter valued at about $203,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of JBS during the 2nd quarter valued at about $5,490,000. EverSource Wealth Advisors LLC purchased a new stake in shares of JBS during the 2nd quarter valued at about $29,000. First Trust Advisors LP purchased a new stake in shares of JBS during the 2nd quarter valued at about $1,419,000. Finally, Marshall Wace LLP purchased a new stake in shares of JBS during the 2nd quarter valued at about $5,206,000.

JBS Company Profile

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.