Jabil (NYSE:JBL) Price Target Cut to $135.00

Jabil (NYSE:JBL) had its price target reduced by stock analysts at Barclays from $149.00 to $135.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 19.27% from the company’s previous close.

Several other brokerages also recently commented on JBL. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group raised their target price on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Finally, UBS Group lowered their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.63.

Jabil Trading Up 1.3 %

Jabil stock opened at $113.19 on Friday. Jabil has a one year low of $100.18 and a one year high of $156.94. The company’s fifty day moving average price is $119.16 and its two-hundred day moving average price is $128.05. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.72. The company has a market capitalization of $13.65 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.40 and a beta of 1.35.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 EPS. On average, analysts forecast that Jabil will post 7.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Gerald Creadon sold 3,000 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the completion of the sale, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at approximately $8,874,159.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Jabil news, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the completion of the transaction, the executive vice president now owns 65,434 shares of the company’s stock, valued at approximately $8,874,159.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the sale, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,877 shares of company stock valued at $3,519,883. Corporate insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Jabil

Several hedge funds and other institutional investors have recently modified their holdings of JBL. Norges Bank bought a new position in Jabil in the 4th quarter worth $192,964,000. Vanguard Group Inc. raised its stake in 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Jabil in the third quarter worth about $57,818,000. Artisan Partners Limited Partnership boosted its position 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 valued at $170,660,000 after acquiring an additional 359,818 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Jabil during the 1st quarter worth approximately $39,040,000. 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).