Jabil (NYSE:JBL) Given New $150.00 Price Target at Bank of America

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

A number of other research analysts have also weighed in on JBL. Stifel Nicolaus reduced their price objective on Jabil from $135.00 to $130.00 and set a buy rating for the company in a research report on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price target on Jabil from $137.00 to $133.00 and set an overweight rating for the company in a report on Tuesday, September 3rd. UBS Group dropped their price target on shares of Jabil from $130.00 to $120.00 and set a neutral rating on the stock in a research note on Friday, June 21st. Finally, Barclays cut their price objective on shares of Jabil from $149.00 to $135.00 and set an overweight rating on the stock in a research report on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $145.75.

Jabil Stock Down 3.4 %

NYSE:JBL opened at $122.31 on Friday. Jabil has a 1-year low of $95.85 and a 1-year high of $156.94. The company has a market capitalization of $13.88 billion, a PE ratio of 11.13, a P/E/G ratio of 2.23 and a beta of 1.25. The firm’s 50-day moving average price is $107.42 and its 200-day moving average price is $116.72. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74.

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

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors 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 0.26%. Jabil’s dividend payout ratio (DPR) is presently 2.91%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Jabil

A number of large investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of Jabil by 13.0% during the 4th quarter. Wells Fargo & Company MN now owns 154,314 shares of the technology company’s stock worth $19,660,000 after acquiring an additional 17,766 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Jabil by 3.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,874 shares of the technology company’s stock valued at $2,022,000 after purchasing an additional 563 shares in the last quarter. US Bancorp DE grew its holdings in Jabil by 40.9% during the fourth quarter. US Bancorp DE now owns 14,387 shares of the technology company’s stock valued at $1,833,000 after purchasing an additional 4,176 shares during the period. Hsbc Holdings PLC increased its position in Jabil by 197.9% in the fourth quarter. Hsbc Holdings PLC now owns 88,436 shares of the technology company’s stock worth $11,268,000 after buying an additional 58,752 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Jabil by 443.5% in the fourth quarter. TD Asset Management Inc now owns 42,233 shares of the technology company’s stock worth $5,380,000 after buying an additional 34,463 shares during the period. 93.39% of the stock is currently 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).