Jabil (JBL) Given a $37.00 Price Target at JPMorgan Chase & Co.
Jabil (NYSE:JBL) received a $37.00 target price from stock analysts at JPMorgan Chase & Co. in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the technology company’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 36.08% from the company’s current price.
Separately, Zacks Investment Research lowered shares of Jabil from a “hold” rating to a “sell” rating in a research note on Wednesday, June 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.
JBL opened at $27.19 on Wednesday. The company has a market cap of $4.70 billion, a PE ratio of 12.57, a PEG ratio of 0.88 and a beta of 0.36. Jabil has a 52-week low of $23.70 and a 52-week high of $31.77. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.51 and a current ratio of 1.02.
Jabil announced that its board has initiated a share repurchase plan on Thursday, June 14th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, CEO Mark T. Mondello sold 30,000 shares of Jabil stock in a transaction on Friday, September 21st. The shares were sold at an average price of $30.01, for a total value of $900,300.00. Following the completion of the sale, the chief executive officer now owns 1,801,889 shares in the company, valued at $54,074,688.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President William E. Peters sold 13,915 shares of Jabil stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $28.11, for a total transaction of $391,150.65. The disclosure for this sale can be found here. Insiders have sold 71,745 shares of company stock worth $2,084,884 in the last quarter. Insiders own 2.60% of the company’s stock.
Several large investors have recently modified their holdings of JBL. BlackRock Inc. increased its stake in shares of Jabil by 1.1% in the first quarter. BlackRock Inc. now owns 15,851,481 shares of the technology company’s stock worth $455,414,000 after buying an additional 177,692 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Jabil by 0.4% in the first quarter. New York State Common Retirement Fund now owns 535,343 shares of the technology company’s stock worth $15,380,000 after buying an additional 2,325 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Jabil in the first quarter worth $2,172,000. Teza Capital Management LLC increased its stake in shares of Jabil by 88.0% in the first quarter. Teza Capital Management LLC now owns 53,964 shares of the technology company’s stock worth $1,550,000 after buying an additional 25,253 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Jabil in the first quarter worth $7,516,000. Institutional investors and hedge funds own 89.79% of the company’s stock.
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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