JBS (NYSE:JBS) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of JBS (NYSE:JBS) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

JBS has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of JBS from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. UBS Group upgraded shares of JBS to a “strong-buy” rating in a research note on Friday, February 6th. Santander raised shares of JBS from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. The Goldman Sachs Group set a $18.50 target price on shares of JBS in a report on Wednesday, November 26th. Finally, Mizuho set a $20.00 price target on shares of JBS in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $19.40.

JBS Price Performance

JBS stock opened at $15.83 on Tuesday. The stock’s 50-day moving average is $14.81 and its 200-day moving average is $14.48. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.76 and a current ratio of 1.54. JBS has a 12 month low of $12.37 and a 12 month high of $17.80.

Institutional Investors Weigh In On JBS

A number of large investors have recently added to or reduced their stakes in JBS. Keybank National Association OH acquired a new position in JBS in the third quarter worth $543,000. Longfellow Investment Management Co. LLC bought a new position in shares of JBS in the 2nd quarter worth about $1,506,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of JBS by 199.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 803,813 shares of the company’s stock valued at $12,001,000 after buying an additional 535,463 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of JBS in the 2nd quarter valued at about $161,969,000. Finally, Permanent Capital Management LP bought a new stake in shares of JBS during the 3rd quarter valued at about $1,221,000.

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.