As we approach the mid-point of 2023, investors and market analysts continue to closely monitor companies with a view to successfully identifying industries with growth potential. One such company that has found itself under the limelight is John Bean Technologies Co. (NYSE:JBT).
Recent data from First Trust Advisors LP reveals an increased stake in JBT by 10.5% during Q4 of last year. According to the filing submitted to the Securities & Exchange Commission, First Trust Advisors LP’s purchased an additional 2,023 shares during this period resulting in a total of 21,295 shares in JBT worth a staggering $1,945,000.
Analysts have since issued varied ratings for John Bean Technologies Co., such as TheStreet, who downgraded JBT’s rating from “b” to “c+” on April 25th this year. Meanwhile, StockNews.com recently began coverage on JBT and gave it a “hold” rating on May 18th.
JBT stock traded at $115.99 on Friday with its fifty-day moving average standing at $105.63 and its two-hundred-day equivalent at $102.09; impressive figures considering JBTs one year low stood at $81.59 while its one-year high reaching $126.26 prior to the close of Q4 in 2022.
Looking ahead and taking into account these very encouraging numbers alongside consistent trading over recent months coupled with spiralling demand, many believe that John Bean Technologies Co. will be a good investment prospect as we move deeper into this decade and beyond. However, caution must always prevail especially when purchasing high-risk stocks in unpredictable markets where risk versus reward is often blurred so it must be kept definitely as an option among many others worth considering depending on individual investment strategies.
The figures procured by First Trust Advisors LP should be seen as encouraging news for those interested in investing in cutting-edge technologies indicating the continuing growth potential of JBT in 2023 and beyond.
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Growing Interest and Mixed Reviews: The State of John Bean Technologies’ Stock
John Bean Technologies is continuing to attract institutional investors and hedge funds who are making major changes to their positions in the company’s shares. Recent moves show that Wellington Management Group, a multinational investment company that has been in operation since 1928, lifted its position in shares of JBT by nearly two thirds, with Royal Bank of Canada upping its stake in the industrial products firm by over 80% during the first quarter. With Turtle Creek Asset Management increasing its shares by well over three times that number last year and Exchange Traded Concepts recently buying a new position, it seems clear there’s growing interest in John Bean Technologies’ stock.
However, along with these positive developments there’ve also been some less encouraging indications for potential investors. TheStreet lowered John Bean Technologies from a “b” rating to a “c+” rating last month, citing concerns about the share price. Likewise StockNews.com’s recent coverage was cautious too, issuing a “hold” rating on the stock. Nevertheless, John Bean Technologies continues to perform strongly on finances and growth with their Q1 sales report published at the end of April revealing an increase of almost 13% YoY (year-over-year). Additionally, they exceeded seller expectations for EPS (earnings per share) delivering $.94 compared with anticipated figures of $.72.
This strong financial performance combined with apparent industry interest is undoubtedly excellent news for any parties interested in investing in JBT. Furthermore this week’s announcement of dividend payments due to shareholders will also be seen as good news – however paying a dividend does represent an additional pressure on cash flow – albeit positively illustrating revenue stability and consistency – which may give pause for thought when considering risk.
Despite challenges brought up by variable reviews and diverse opinions between experts regarding both prospects and sell opportunities; it appears institutional players generally believe investing in JBT remains profitable long-term as shareholder turnover statistics signify around 98% ownership shared between hedge funds. With fiscal year 2017 earnings data expected to be around $5.31 EPS, John Bean Technologies appears to be on track to maintain its upward trend and this looks set to spark interest from investors for the foreseeable future.