John Bean Technologies (NYSE:JBT) Reaches New 52-Week High – Still a Buy?

John Bean Technologies Co. (NYSE:JBT) shares hit a new 52-week high during trading on Monday . The company traded as high as $123.68 and last traded at $123.20, with a volume of 98864 shares changing hands. The stock had previously closed at $120.69.

John Bean Technologies Stock Performance

The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. The stock’s 50 day moving average is $105.69 and its 200 day moving average is $97.72. The company has a current ratio of 2.55, a quick ratio of 2.00 and a debt-to-equity ratio of 0.41.

John Bean Technologies (NYSE:JBT) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. The firm had revenue of $453.80 million for the quarter, compared to analyst estimates of $442.20 million. During the same quarter in the prior year, the business posted $1.11 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. Analysts anticipate that John Bean Technologies Co. will post 5.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JBT. Vanguard Group Inc. lifted its holdings in shares of John Bean Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 3,524,626 shares of the industrial products company’s stock worth $369,698,000 after acquiring an additional 31,798 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in John Bean Technologies by 57.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,279,425 shares of the industrial products company’s stock valued at $121,507,000 after purchasing an additional 466,846 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in John Bean Technologies by 2.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 951,534 shares of the industrial products company’s stock valued at $90,367,000 after purchasing an additional 24,981 shares during the last quarter. Royce & Associates LP lifted its stake in John Bean Technologies by 7.2% in the 3rd quarter. Royce & Associates LP now owns 858,523 shares of the industrial products company’s stock valued at $84,573,000 after purchasing an additional 57,371 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in John Bean Technologies by 170.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,184 shares of the industrial products company’s stock valued at $82,964,000 after purchasing an additional 531,298 shares during the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.

John Bean Technologies Company Profile

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.