Jabil (NYSE:JBL – Free Report) had its price target boosted by The Goldman Sachs Group from $160.00 to $179.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.
Several other brokerages have also commented on JBL. Barclays increased their price target on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. UBS Group raised their target price on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Jabil has a consensus rating of “Moderate Buy” and a consensus price target of $158.83.
Get Our Latest Research Report on Jabil
Jabil Stock Performance
Jabil (NYSE:JBL – Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.88 by $0.12. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the prior year, the business posted $2.60 EPS. Jabil’s quarterly revenue was down 16.6% on a year-over-year basis. Equities analysts expect that Jabil will post 8.05 EPS for the current fiscal year.
Jabil Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.20%. Jabil’s payout ratio is presently 3.07%.
Insiders Place Their Bets
In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $151.30, for a total value of $3,026,000.00. Following the sale, the director now directly owns 119,108 shares in the company, valued at $18,021,040.40. This trade represents a 14.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the sale, the executive vice president now owns 138,472 shares in the company, valued at $20,744,490.32. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock worth $12,804,458 in the last ninety days. Insiders own 1.73% of the company’s stock.
Institutional Trading of Jabil
Several hedge funds and other institutional investors have recently bought and sold shares of JBL. Wellington Management Group LLP grew its position in Jabil by 70,781.4% in the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after purchasing an additional 5,800,535 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Jabil by 12,251.7% during the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after acquiring an additional 2,188,521 shares in the last quarter. Norges Bank acquired a new stake in shares of Jabil during the 4th quarter valued at about $218,430,000. Point72 Asset Management L.P. boosted its position in shares of Jabil by 1,007.6% during the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock valued at $138,954,000 after acquiring an additional 878,444 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Jabil by 406.5% during the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after acquiring an additional 580,100 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.
Jabil Company Profile
Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; 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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