Bank of America Corp. Analysts Give Jabil Circuit Inc. (JBL) a $24.00 Price Target
Jabil Circuit Inc. (NYSE:JBL) received a $24.00 target price from equities researchers at Bank of America Corp. in a note issued to investors on Tuesday. The firm presently has a a “buy” rating on the stock. Bank of America Corp.’s price objective would indicate a potential upside of 3.63% from the stock’s current price.
Several other brokerages have also recently weighed in on JBL. Goldman Sachs Group Inc. raised Jabil Circuit from a “sell” rating to a “neutral” rating and upped their price target for the stock from $16.00 to $21.00 in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Jabil Circuit in a research note on Tuesday. B. Riley reaffirmed a “buy” rating and issued a $27.00 price target (up from $22.00) on shares of Jabil Circuit in a research note on Monday. Zacks Investment Research raised Jabil Circuit from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, TheStreet raised Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Jabil Circuit presently has an average rating of “Hold” and a consensus target price of $31.42.
Jabil Circuit (NYSE:JBL) traded up 2.16% during midday trading on Tuesday, hitting $23.66. The stock had a trading volume of 2,047,620 shares. The firm has a 50 day moving average of $21.17 and a 200 day moving average of $19.46. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 15.09 and a beta of 0.87. Jabil Circuit has a 52 week low of $16.78 and a 52 week high of $26.00.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, August 11th. Jabil Circuit’s dividend payout ratio is 20.38%.
In other Jabil Circuit news, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $21.90, for a total value of $43,800.00. Following the transaction, the chief executive officer now owns 241,092 shares of the company’s stock, valued at $5,279,914.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President William E. Peters sold 20,000 shares of the stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total value of $465,000.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of JBL. Quantitative Systematic Strategies LLC purchased a new position in Jabil Circuit during the second quarter worth $181,000. Calvert Investment Management Inc. bought a new position in Jabil Circuit during the second quarter valued at approximately $201,000. LS Investment Advisors LLC increased its position in Jabil Circuit by 71.2% in the second quarter. LS Investment Advisors LLC now owns 11,551 shares of the company’s stock valued at $213,000 after buying an additional 4,802 shares during the period. World Asset Management Inc increased its position in Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock valued at $221,000 after buying an additional 120 shares during the period. Finally, LPL Financial LLC increased its position in Jabil Circuit by 22.8% in the first quarter. LPL Financial LLC now owns 11,912 shares of the company’s stock valued at $222,000 after buying an additional 2,209 shares during the period. 89.92% of the stock is currently owned by institutional investors.
Jabil Circuit Company Profile
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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