Jabil Inc (NYSE:JBL) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,330,000 shares, a growth of 13.4% from the September 30th total of 4,700,000 shares. Based on an average daily trading volume, of 1,470,000 shares, the short-interest ratio is presently 3.6 days. Approximately 3.7% of the shares of the company are short sold.

In related news, EVP Courtney J. Ryan sold 10,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the sale, the executive vice president now owns 307,413 shares of the company’s stock, valued at approximately $9,837,216. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Dastoor sold 18,486 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.43, for a total value of $728,902.98. Following the sale, the chief financial officer now directly owns 204,702 shares in the company, valued at approximately $8,071,399.86. The disclosure for this sale can be found here. Insiders have sold a total of 307,132 shares of company stock worth $11,074,949 in the last ninety days. Insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Jabil by 4.9% in the 2nd quarter. BlackRock Inc. now owns 14,301,993 shares of the technology company’s stock worth $451,943,000 after buying an additional 662,350 shares during the period. Vanguard Group Inc. lifted its stake in shares of Jabil by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,239,040 shares of the technology company’s stock valued at $449,954,000 after purchasing an additional 41,893 shares during the period. Texas Yale Capital Corp. lifted its stake in shares of Jabil by 0.7% in the 3rd quarter. Texas Yale Capital Corp. now owns 9,604,758 shares of the technology company’s stock valued at $343,562,000 after purchasing an additional 65,000 shares during the period. LSV Asset Management lifted its stake in shares of Jabil by 0.8% in the 2nd quarter. LSV Asset Management now owns 6,587,203 shares of the technology company’s stock valued at $208,155,000 after purchasing an additional 49,754 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Jabil by 80.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,790,319 shares of the technology company’s stock valued at $56,574,000 after purchasing an additional 799,777 shares during the period. Institutional investors and hedge funds own 89.09% of the company’s stock.

JBL traded up $0.33 on Friday, hitting $39.02. 1,071,768 shares of the company were exchanged, compared to its average volume of 1,241,871. The firm has a fifty day simple moving average of $36.70 and a two-hundred day simple moving average of $31.01. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.62 and a current ratio of 0.98. Jabil has a 12 month low of $21.49 and a 12 month high of $39.72. The stock has a market capitalization of $5.91 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.97.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Tuesday, September 24th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. Jabil had a return on equity of 15.90% and a net margin of 1.14%. The business had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same period last year, the company earned $0.70 EPS. Jabil’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts expect that Jabil will post 2.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.82%. Jabil’s payout ratio is 17.68%.

Several analysts have weighed in on the company. Standpoint Research cut Jabil from a “buy” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Jabil from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Stifel Nicolaus increased their price objective on Jabil from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, September 25th. Bank of America increased their price objective on Jabil from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada began coverage on Jabil in a research report on Tuesday, November 12th. They set a “sector perform” rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Jabil has an average rating of “Hold” and a consensus target price of $37.13.

About Jabil

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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