Jabil (NYSE:JBL) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Jabil (NYSE:JBL) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

A number of other brokerages have also weighed in on JBL. Stifel Nicolaus raised their price objective on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Bank of America increased their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Barclays raised their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Jabil Stock Up 1.9 %

Shares of Jabil stock opened at $135.83 on Wednesday. Jabil has a twelve month low of $95.85 and a twelve month high of $156.94. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The company has a fifty day moving average price of $125.87 and a 200 day moving average price of $116.27.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. The company’s revenue was down 17.7% compared to the same quarter last year. Equities research analysts forecast that Jabil will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio is presently 2.90%.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value of $1,430,701.05. Following the sale, the senior vice president now directly owns 41,507 shares in the company, valued at $5,051,816.97. The trade was a 22.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jabil

Institutional investors have recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new stake in Jabil in the second quarter worth about $28,000. Innealta Capital LLC acquired a new position in shares of Jabil in the 2nd quarter worth approximately $31,000. Capital Performance Advisors LLP bought a new stake in shares of Jabil in the 3rd quarter worth approximately $32,000. Family Firm Inc. bought a new stake in shares of Jabil in the 2nd quarter worth approximately $37,000. Finally, Brooklyn Investment Group acquired a new stake in Jabil during the third quarter valued at approximately $39,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

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).