Jabil (NYSE:JBL) Price Target Raised to $179.00

Jabil (NYSE:JBL) had its price target raised by Barclays from $157.00 to $179.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Bank of America lifted their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. StockNews.com lowered Jabil from a “strong-buy” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a research note on Thursday. Finally, UBS Group increased their price objective on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $153.17.

Jabil Stock Up 3.2 %

JBL opened at $145.00 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil has a 12 month low of $95.85 and a 12 month high of $156.94. The stock has a market capitalization of $16.20 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.57 and a beta of 1.25. The business has a 50 day simple moving average of $131.14 and a 200-day simple moving average of $118.34.

Jabil (NYSE:JBL) last released its earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. Jabil’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.60 earnings per share. On average, equities analysts anticipate that Jabil will post 7.89 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, November 15th. Jabil’s payout ratio is currently 3.07%.

Insider Activity at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the sale, the director now owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares of the company’s stock, valued at $12,908,981.10. The trade was a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,689 shares of company stock valued at $5,377,431. 1.73% of the stock is owned by insiders.

Institutional Trading of Jabil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Foster & Motley Inc. boosted its position in shares of Jabil by 8.7% in the third quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock worth $6,252,000 after acquiring an additional 4,181 shares during the last quarter. Nicola Wealth Management LTD. raised its stake in Jabil by 54.9% during the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock worth $4,733,000 after purchasing an additional 14,000 shares during the period. Empowered Funds LLC boosted its holdings in shares of Jabil by 11.8% in the 3rd quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock valued at $17,457,000 after purchasing an additional 15,413 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Jabil by 58.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,815 shares of the technology company’s stock valued at $23,105,000 after buying an additional 71,292 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Jabil by 51.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,107 shares of the technology company’s stock worth $2,514,000 after buying an additional 7,878 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Company Profile

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).