Jabil Circuit Inc. (JBL) Upgraded by Goldman Sachs Group Inc. to “Neutral”
Goldman Sachs Group Inc. upgraded shares of Jabil Circuit Inc. (NYSE:JBL) from a sell rating to a neutral rating in a report issued on Tuesday. The brokerage currently has $21.00 price objective on the stock, up from their previous price objective of $16.00.
Several other equities analysts also recently weighed in on the stock. B. Riley reaffirmed a buy rating and set a $27.00 price target (up previously from $22.00) on shares of Jabil Circuit in a report on Monday. TheStreet upgraded shares of Jabil Circuit from a hold rating to a buy rating in a research report on Thursday, September 8th. Zacks Investment Research upgraded shares of Jabil Circuit from a sell rating to a hold rating in a research report on Tuesday, August 16th. Raymond James Financial Inc. reiterated a buy rating on shares of Jabil Circuit in a research report on Wednesday, July 27th. Finally, Royal Bank Of Canada reiterated a hold rating on shares of Jabil Circuit in a research report on Saturday, June 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $32.09.
Shares of Jabil Circuit (NYSE:JBL) opened at 23.16 on Tuesday. The firm’s 50-day moving average is $21.17 and its 200 day moving average is $19.46. The stock has a market cap of $4.43 billion, a PE ratio of 14.77 and a beta of 0.87. Jabil Circuit has a 12 month low of $16.78 and a 12 month high of $26.00.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is 20.38%.
In other news, CEO Michael J. Loparco sold 2,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $21.90, for a total transaction of $43,800.00. Following the completion of the sale, the chief executive officer now directly owns 241,092 shares of the company’s stock, valued at $5,279,914.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William E. Peters sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total transaction of $465,000.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Jabil Circuit by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 33,007 shares of the company’s stock worth $610,000 after buying an additional 132 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Jabil Circuit during the second quarter worth about $1,610,000. Calvert Investment Management Inc. bought a new stake in shares of Jabil Circuit during the second quarter worth about $201,000. Walthausen & Co. LLC bought a new stake in shares of Jabil Circuit during the second quarter worth about $6,436,000. Finally, Amalgamated Bank raised its stake in shares of Jabil Circuit by 8.4% in the second quarter. Amalgamated Bank now owns 25,457 shares of the company’s stock worth $532,000 after buying an additional 1,971 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other 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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