Jabil Circuit, Inc. (NYSE:JBL) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

JBL has been the topic of a number of other research reports. J P Morgan Chase & Co assumed coverage on Jabil Circuit in a research report on Wednesday, August 2nd. They set an “overweight” rating and a $40.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $27.00 price objective on shares of Jabil Circuit in a research report on Tuesday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Jabil Circuit in a research report on Tuesday, June 13th. Stifel Nicolaus raised their price objective on Jabil Circuit from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, June 20th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $28.77.

Jabil Circuit (NYSE JBL) opened at 29.22 on Friday. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 44.95 and a beta of 0.56. The stock has a 50 day moving average price of $30.19 and a 200 day moving average price of $28.49. Jabil Circuit has a 52-week low of $20.32 and a 52-week high of $31.70.

Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts expect that Jabil Circuit will post $2.09 EPS for the current fiscal year.

Jabil Circuit announced that its board has approved a share repurchase plan on Thursday, July 20th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the technology company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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In other news, Director Thomas A. Sansone sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the transaction, the director now directly owns 176,688 shares in the company, valued at $5,521,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO William D. Muir, Jr. sold 19,866 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $29.34, for a total value of $582,868.44. Following the completion of the transaction, the chief operating officer now owns 597,085 shares of the company’s stock, valued at $17,518,473.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 305,495 shares of company stock valued at $9,205,242. 2.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock valued at $236,000 after buying an additional 109 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Jabil Circuit by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock valued at $1,482,000 after buying an additional 194 shares during the last quarter. Greenwich Wealth Management LLC boosted its position in shares of Jabil Circuit by 1.0% in the first quarter. Greenwich Wealth Management LLC now owns 24,330 shares of the technology company’s stock valued at $704,000 after buying an additional 230 shares during the last quarter. Pegasus Partners Ltd. boosted its position in shares of Jabil Circuit by 0.7% in the first quarter. Pegasus Partners Ltd. now owns 32,719 shares of the technology company’s stock valued at $946,000 after buying an additional 232 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its position in shares of Jabil Circuit by 1.2% in the first quarter. Advantus Capital Management Inc now owns 23,332 shares of the technology company’s stock valued at $675,000 after buying an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Jabil Circuit Company Profile

Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.

Analyst Recommendations for Jabil Circuit (NYSE:JBL)

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