Zacks Investment Research downgraded
John Bean Technologies Corporation
) to a Zacks Rank #5 (Strong Sell) on Mar 29, 2014. Going by the
Zacks model, companies with a Zacks Rank #5 have strong chances
of performing worse than the broader market.
Why the Downgrade?
John Bean Technologies failed to impress its shareholders or the
market at large as evidenced from a nearly 3% fall in its share
price since the company reported its fourth-quarter 2013 results
on Mar 4, 2014. A snapshot of the quarter's results is provided
Adjusted earnings per share from continuing operations were 54
cents, down from 64 cents recorded in the year-ago quarter.
However, the bottom line came in ahead of the Zacks Consensus
Estimate of 44 cents.
Revenues generated in the quarter were $288 million, down 1.6%
year over year. The decline was due primarily to a 5.1% fall in
revenues from the JBT AeroTech segment, offset partially by a
1.0% increase in revenues from the JBT FoodTech segment. Cost of
sales increased 0.3%, while gross margin was down 140 basis
For first-quarter 2014, John Bean Technologies expects earnings
per share to be slightly above the break-even level but much
lower than the 14 cents recorded in the year-ago quarter.
Weak results in the fourth quarter as well as a poor guidance for
first-quarter 2014 triggered downward revisions in earnings
estimates. In the last 30 days, the Zacks Consensus Estimate for
John Bean Technologies has decreased 9.5% to $1.43 for 2014 and
16.1% to $1.62 for 2015.
Other Stocks to Consider
John Bean Technologies Corporation has a market capitalization of
$876 million. Some better-ranked stocks in the machinery industry
Active Power Inc.
Lennox International, Inc.
Broadwind Energy, Inc.
), all of which carry a Zacks Rank #2 (Buy).
ACTIVE POWER (ACPW): Free Stock Analysis
BROADWIND ENRGY (BWEN): Free Stock Analysis
JOHN BEAN TECH (JBT): Free Stock Analysis
LENNOX INTL INC (LII): Free Stock Analysis
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