Jabil (NYSE:JBL) Price Target Raised to $150.00

Jabil (NYSE:JBL) had its price objective lifted by Bank of America from $135.00 to $150.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other equities analysts also recently issued reports on the company. UBS Group reduced their price objective on Jabil from $130.00 to $120.00 and set a neutral rating for the company in a research report on Friday, June 21st. Stifel Nicolaus decreased their price target on Jabil from $135.00 to $130.00 and set a buy rating for the company in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lowered their price target on Jabil from $137.00 to $133.00 and set an overweight rating on the stock in a report on Tuesday, September 3rd. Finally, Barclays reduced their price objective on shares of Jabil from $149.00 to $135.00 and set an overweight rating for the company in a report on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $145.86.

Jabil Price Performance

Shares of JBL opened at $119.83 on Friday. Jabil has a 12 month low of $95.85 and a 12 month high of $156.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. The stock has a fifty day moving average price of $107.55 and a 200 day moving average price of $116.07. The company has a market cap of $13.59 billion, a P/E ratio of 10.90, a PEG ratio of 2.23 and a beta of 1.25.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 earnings per share. On average, research analysts forecast that Jabil will post 7.85 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. Jabil’s dividend payout ratio (DPR) is 2.91%.

Insider Transactions at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the transaction, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the transaction, the executive vice president now owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the sale, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Jabil

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 worth $1,919,948,000 after buying an additional 1,427,429 shares during the period. Primecap Management Co. CA boosted its position in Jabil by 3.0% during the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after acquiring an additional 107,800 shares during the period. Dimensional Fund Advisors LP grew its stake in Jabil by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock valued at $178,058,000 after acquiring an additional 106,808 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after purchasing an additional 310,590 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after purchasing an additional 702,199 shares in the last quarter. 93.39% of the stock is currently owned by hedge funds and other 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).