Jabil (NYSE:JBL) PT Lowered to $135.00 at Bank of America

Jabil (NYSE:JBL) had its target price cut by equities research analysts at Bank of America from $150.00 to $135.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective would indicate a potential upside of 19.27% from the company’s previous close.

Several other research analysts also recently weighed in on JBL. UBS Group dropped their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday. Argus lowered Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. cut their target price on Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Barclays lowered their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday. Finally, StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.63.

Jabil Price Performance

NYSE JBL opened at $113.19 on Friday. The business’s fifty day moving average is $119.16 and its 200 day moving average is $128.05. Jabil has a fifty-two week low of $100.18 and a fifty-two week high of $156.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.72 and a current ratio of 1.13. The company has a market capitalization of $13.65 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35.

Jabil (NYSE:JBL) last released its earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The firm’s revenue was down 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.85 EPS. Sell-side analysts predict that Jabil will post 7.74 earnings per share for the current year.

Insider Transactions at Jabil

In other Jabil news, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the transaction, the chief executive officer now owns 339,725 shares in the company, valued at approximately $45,591,095. The disclosure for this sale can be found here. Insiders have sold 25,877 shares of company stock valued at $3,519,883 in the last ninety days. Corporate insiders own 2.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JBL. Paralel Advisors LLC increased its stake in Jabil by 1.2% in the 3rd quarter. Paralel Advisors LLC now owns 21,693 shares of the technology company’s stock worth $2,753,000 after buying an additional 247 shares during the period. Prudential PLC raised its stake in shares of Jabil by 22.4% during the third quarter. Prudential PLC now owns 3,208 shares of the technology company’s stock valued at $407,000 after acquiring an additional 587 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Jabil in the third quarter valued at approximately $466,000. Envestnet Asset Management Inc. grew its stake in Jabil by 11.2% in the third quarter. Envestnet Asset Management Inc. now owns 80,467 shares of the technology company’s stock worth $10,211,000 after purchasing an additional 8,135 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Jabil by 58.1% during the 3rd quarter. Hsbc Holdings PLC now owns 29,684 shares of the technology company’s stock worth $3,763,000 after purchasing an additional 10,905 shares during the period. 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).