Jabil (NYSE:JBL) Price Target Cut to $120.00 by Analysts at UBS Group

Jabil (NYSE:JBL) had its price objective reduced by UBS Group from $130.00 to $120.00 in a research report sent to investors on Friday, Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Jabil from a hold rating to a buy rating in a report on Tuesday, April 23rd. Argus cut shares of Jabil from a buy rating to a hold rating in a report on Tuesday, March 19th. Barclays cut their price target on shares of Jabil from $151.00 to $149.00 and set an overweight rating on the stock in a report on Monday, March 18th. JPMorgan Chase & Co. cut their price target on shares of Jabil from $155.00 to $145.00 and set an overweight rating on the stock in a report on Monday, June 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Jabil from $141.00 to $161.00 and gave the stock a buy rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $142.63.

Jabil Trading Up 1.3 %

NYSE:JBL opened at $113.19 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.58 and a beta of 1.35. The firm has a fifty day simple moving average of $119.16 and a two-hundred day simple moving average of $127.96. Jabil has a 12 month low of $100.18 and a 12 month high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. The business’s quarterly revenue was down 20.2% on a year-over-year basis. During the same period last year, the company posted $1.85 earnings per share. Analysts expect that Jabil will post 7.74 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date was Tuesday, May 14th. Jabil’s dividend payout ratio is 2.75%.

Insiders Place Their Bets

In other Jabil news, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the sale, the executive vice president now owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the sale, the executive vice president now owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at approximately $45,591,095. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,877 shares of company stock valued at $3,519,883. Company insiders own 2.62% of the company’s stock.

Institutional Trading of Jabil

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Jabil by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after purchasing an additional 1,427,429 shares during the period. Wellington Management Group LLP increased its holdings in Jabil by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 5,392,355 shares of the technology company’s stock worth $684,236,000 after acquiring an additional 36,560 shares during the period. Norges Bank bought a new stake in Jabil during the 4th quarter worth approximately $192,964,000. Artisan Partners Limited Partnership increased its holdings in Jabil by 36.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after acquiring an additional 359,818 shares during the period. Finally, Northern Trust Corp increased its holdings in Jabil by 13.8% during the 3rd quarter. Northern Trust Corp now owns 1,162,838 shares of the technology company’s stock worth $147,553,000 after acquiring an additional 141,383 shares during the period. Institutional investors own 93.39% of the company’s stock.

About Jabil

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).