Jabil (JBL) Stock Rating Reaffirmed by Raymond James Financial
Jabil (NYSE:JBL)‘s stock had its “hold” rating reaffirmed by investment analysts at Raymond James Financial in a research note issued on Thursday.
Several other brokerages also recently issued reports on JBL. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 price target on shares of Jabil in a research report on Friday, September 1st. ValuEngine raised Jabil from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 7th. Goldman Sachs Group downgraded Jabil from a “neutral” rating to a “sell” rating and lowered their price target for the company from $28.00 to $26.00 in a research report on Tuesday, October 10th. Bank of America downgraded Jabil from a “buy” rating to a “neutral” rating in a research report on Monday, September 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Jabil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Jabil has a consensus rating of “Hold” and an average target price of $30.50.
Jabil (NYSE:JBL) traded down $1.08 during trading on Thursday, reaching $27.45. 6,068,200 shares of the company’s stock traded hands, compared to its average volume of 1,930,695. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.96 and a quick ratio of 0.54. The firm has a market capitalization of $5,045.71, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.07 and a beta of 0.55. Jabil has a 52-week low of $21.51 and a 52-week high of $31.70.
In related news, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $28.48, for a total value of $854,400.00. Following the completion of the sale, the chief executive officer now owns 1,836,889 shares in the company, valued at $52,314,598.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Erich Hoch sold 2,500 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $28.49, for a total transaction of $71,225.00. Following the completion of the sale, the chief executive officer now owns 206,943 shares of the company’s stock, valued at approximately $5,895,806.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,680 shares of company stock valued at $4,204,246. 2.90% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Jabil by 1.0% during the second quarter. Vanguard Group Inc. now owns 13,967,548 shares of the technology company’s stock worth $407,712,000 after purchasing an additional 134,408 shares during the period. Dimensional Fund Advisors LP lifted its stake in Jabil by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 5,980,736 shares of the technology company’s stock worth $170,778,000 after purchasing an additional 29,530 shares during the period. AJO LP lifted its stake in Jabil by 7,383.3% during the second quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock worth $102,533,000 after purchasing an additional 3,465,668 shares during the period. LSV Asset Management lifted its stake in Jabil by 11.8% during the second quarter. LSV Asset Management now owns 3,071,682 shares of the technology company’s stock worth $89,662,000 after purchasing an additional 323,845 shares during the period. Finally, Northern Trust Corp lifted its stake in Jabil by 15.6% during the second quarter. Northern Trust Corp now owns 2,004,392 shares of the technology company’s stock worth $58,508,000 after purchasing an additional 269,985 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.
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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.
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