Jabil (NYSE:JBL) Raised to Buy at Argus

Jabil (NYSE:JBL) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a report released on Wednesday,Briefing.com Automated Import reports.

Several other research firms have also weighed in on JBL. JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Barclays boosted their price target on shares of Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, June 10th. The Goldman Sachs Group raised their price objective on Jabil from $165.00 to $188.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Finally, UBS Group increased their price target on 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 seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Jabil has a consensus rating of “Moderate Buy” and an average target price of $169.17.

Jabil Stock Up 8.6%

NYSE:JBL opened at $196.42 on Wednesday. The company has a market cap of $21.09 billion, a price-to-earnings ratio of 46.99, a P/E/G ratio of 1.76 and a beta of 1.14. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.66 and a current ratio of 1.02. The stock’s fifty day moving average price is $157.94 and its two-hundred day moving average price is $151.63. Jabil has a 52-week low of $95.85 and a 52-week high of $203.90.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Jabil had a return on equity of 49.64% and a net margin of 1.76%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. On average, analysts anticipate that Jabil will post 8.05 EPS for the current year.

Insider Activity at Jabil

In related news, CEO Michael Dastoor sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the sale, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $166.75, for a total value of $3,335,000.00. Following the transaction, the chairman now owns 1,710,192 shares of the company’s stock, valued at $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $7,665,200 over the last quarter. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Jabil

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Jabil in the 4th quarter worth $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Jabil during the first quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp bought a new position in Jabil in the fourth quarter worth approximately $29,000. Harbor Capital Advisors Inc. boosted its stake in shares of Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after acquiring an additional 116 shares during the last quarter. Finally, Groupe la Francaise grew its position in shares of Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after acquiring an additional 64 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).