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

Jabil (NYSE:JBL) had its target price hoisted by investment analysts at Barclays from $184.00 to $206.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 16.11% from the company’s previous close.

A number of other research firms have also issued reports on JBL. Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. decreased their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group cut their target price on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, UBS Group increased their price target on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.17.

Jabil Stock Up 0.5%

JBL stock opened at $177.42 on Tuesday. The stock has a market capitalization of $19.05 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. Jabil has a 52 week low of $95.85 and a 52 week high of $179.37. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a 50 day moving average of $150.94 and a 200 day moving average of $149.76.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the business posted $1.68 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that Jabil will post 8.05 earnings per share for the current year.

Insider Buying and Selling at Jabil

In other news, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the transaction, the chairman now directly owns 1,730,192 shares in the company, valued at $227,624,059.52. This trade represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $7,665,200 over the last quarter. 1.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jabil

A number of hedge funds have recently modified their holdings of JBL. Truist Financial Corp lifted its holdings in shares of Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after acquiring an additional 4,034 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of Jabil during the fourth quarter worth approximately $214,000. Principal Financial Group Inc. raised its holdings in shares of Jabil by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock valued at $20,616,000 after purchasing an additional 5,993 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Jabil during the 4th quarter worth about $272,000. Finally, LPL Financial LLC raised its holdings in Jabil by 23.5% during the fourth quarter. LPL Financial LLC now owns 40,748 shares of the technology company’s stock worth $5,864,000 after purchasing an additional 7,747 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

About Jabil

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).