Zacks Investment Research upgraded John Bean Technologies Corporation JBT to a Zacks Rank #1 (Strong Buy) on Jun 26, 2015. Going by the Zacks model, companies holding a Zacks Rank #1 have strong chances of performing better than the broader market.
Why the Upgrade?
Marker sentiments have been favorable for John Bean Technologies, with the share price rising 15.7% since the beginning of 2015. Also, the company’s better-than-expected results for first-quarter 2015 have increased its investment value. A snapshot of the quarterly results as well as future expectations will serve to justify the expectations of investors.
The company’s earnings of 27 cents per share came above the Zacks Consensus Estimate of 19 cents, also improving over the year-ago loss of 16 cents. Revenues grew 13.6% year over year on the back of solid order growth of 24%.
For 2015, John Bean Technologies anticipates diluted earnings within $1.65−$1.80 per share, above the year-ago earnings of $1.56 per share. Over the last 60 days, the Zacks Consensus Estimate for the stock has increased 4.2% to $1.75 per share for 2015 and 1% to $1.98 per share for 2016. Also, these estimates represent year-over-year growth of 12.2% for 2015 and 13.1% for 2016.
Other Stocks to Consider
Presently, John Bean Technologies has a market capitalization of $1.1 billion. Other stocks worth considering in the machinery industry include II-VI Incorporated IIVI, AZZ Incorporated AZZ and Luxfer Holdings PLC LXFR. While II-VI Incorporated sports the same rank as John Bean Technologies, both AZZ Incorporated and Luxfer Holdings carry a Zacks Rank #2 (Buy).
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