Jabil (NYSE:JBL) Stock Jumps 5% – Time to Buy?

Jabil, Inc. (NYSE:JBL)’s stock price was up 5% during trading on Friday. The stock traded as high as $328.99 and last traded at $326.0940. 138,141 shares were traded during trading, a decline of 88% from the average daily volume of 1,191,734 shares. The stock had previously closed at $310.69.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Robert W. Baird raised their price objective on Jabil from $355.00 to $440.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Bank of America reissued a “buy” rating and issued a $470.00 target price on shares of Jabil in a research report on Thursday, June 18th. The Goldman Sachs Group dropped their price target on Jabil from $482.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, September 8th. Raymond James Financial lifted their price target on Jabil from $425.00 to $450.00 and gave the stock a “strong-buy” rating in a research report on Thursday, June 18th. Finally, Stifel Nicolaus set a $460.00 price objective on Jabil and gave the company a “buy” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Jabil has a consensus rating of “Buy” and a consensus target price of $441.78.

Jabil Trading Up 4.4%

The company has a 50 day simple moving average of $317.51 and a 200 day simple moving average of $323.97. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $34.00 billion, a PE ratio of 40.60, a P/E/G ratio of 0.70 and a beta of 1.29.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Friday, August 14th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. Jabil’s dividend payout ratio (DPR) is currently 4.00%.

Insiders Place Their Bets

In other Jabil news, EVP Matthew Crowley sold 94 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $345.00, for a total value of $32,430.00. Following the transaction, the executive vice president directly owned 57,536 shares of the company’s stock, valued at approximately $19,849,920. The trade was a 0.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.35% of the stock is currently owned by company insiders.

Institutional Trading of Jabil

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in Jabil in the 2nd quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new stake in shares of Jabil in the 2nd quarter valued at approximately $35,000. PenderFund Capital Management Ltd. acquired a new position in Jabil during the second quarter worth $44,000. Persistent Asset Partners Ltd acquired a new stake in Jabil in the second quarter valued at $45,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Jabil in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Company Profile

Jabil Inc is a global manufacturing and technology solutions provider that helps companies design, manufacture and manage products across their lifecycles. Its services include product and process engineering, supply-chain management, procurement, manufacturing, assembly, testing, packaging and aftermarket services.

The company supports customers in a range of industries, including cloud and data infrastructure, automotive, healthcare, connected devices, consumer products, energy and industrial applications.