Barclays Forecasts Strong Price Appreciation for Jabil (NYSE:JBL) Stock

Jabil (NYSE:JBL) had its target price boosted by Barclays from $157.00 to $179.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other research firms have also issued reports on JBL. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a research note on Thursday. StockNews.com lowered shares of Jabil from a “strong-buy” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. UBS Group raised their price target on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Bank of America boosted their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $153.17.

Jabil Trading Up 3.2 %

Shares of JBL stock opened at $145.00 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Jabil has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The firm’s 50 day moving average price is $131.14 and its two-hundred day moving average price is $118.34. The stock has a market cap of $16.20 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25.

Jabil (NYSE:JBL) last posted its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.12. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the previous year, the business posted $2.60 EPS. The business’s quarterly revenue was down 16.6% on a year-over-year basis. On average, analysts anticipate that Jabil will post 7.89 EPS for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. Jabil’s dividend payout ratio (DPR) is 3.07%.

Insiders Place Their Bets

In related news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Crowley sold 1,380 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the sale, the executive vice president now directly owns 18,568 shares of the company’s stock, valued at approximately $2,336,411.44. This represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last ninety days. Corporate insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Jabil

A number of hedge funds have recently added to or reduced their stakes in JBL. Synovus Financial Corp raised its holdings in shares of Jabil by 92.8% during the third quarter. Synovus Financial Corp now owns 18,056 shares of the technology company’s stock worth $2,164,000 after purchasing an additional 8,693 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Jabil during the 3rd quarter valued at about $347,000. Sanctuary Advisors LLC raised its stake in Jabil by 1.3% during the third quarter. Sanctuary Advisors LLC now owns 46,101 shares of the technology company’s stock worth $6,045,000 after acquiring an additional 573 shares during the period. Te Ahumairangi Investment Management Ltd raised its stake in Jabil by 365.6% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,767 shares of the technology company’s stock worth $2,474,000 after acquiring an additional 16,307 shares during the period. Finally, Virtu Financial LLC boosted its stake in Jabil by 157.9% in the third quarter. Virtu Financial LLC now owns 15,091 shares of the technology company’s stock valued at $1,808,000 after acquiring an additional 9,239 shares during the period. Institutional investors and hedge funds 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).