Jabil (NYSE:JBL) Price Target Raised to $175.00

Jabil (NYSE:JBL) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $172.00 to $175.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 20.67% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. Barclays lifted their price target on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, December 20th. The Goldman Sachs Group boosted their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, UBS Group boosted their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $167.50.

Jabil Price Performance

Shares of Jabil stock opened at $145.02 on Friday. Jabil has a twelve month low of $95.85 and a twelve month high of $174.80. The firm has a market cap of $15.83 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The firm’s 50-day simple moving average is $155.96 and its 200-day simple moving average is $138.15. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period last year, the firm posted $1.68 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts expect that Jabil will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the sale, the director now directly owns 119,108 shares of the company’s stock, valued at $18,021,040.40. The trade was a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the sale, the director now directly owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,400 shares of company stock valued at $12,804,458 over the last ninety days. Insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Jabil

A number of institutional investors and hedge funds have recently modified their holdings of JBL. Wellington Management Group LLP grew its holdings in Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after purchasing an additional 5,800,535 shares during the period. FMR LLC grew its holdings in Jabil by 8.1% during the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock valued at $796,220,000 after purchasing an additional 416,841 shares during the period. Geode Capital Management LLC grew its holdings in Jabil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock valued at $404,024,000 after purchasing an additional 34,574 shares during the period. JPMorgan Chase & Co. grew its holdings in Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after purchasing an additional 288,806 shares during the period. Finally, Norges Bank acquired a new position in Jabil during the fourth quarter valued at approximately $218,430,000. 93.39% of the stock is owned by institutional investors.

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).