Raymond James Increases Jabil Circuit Price Target to $28.00 (JBL)
Research analysts at Raymond James upped their price target on shares of Jabil Circuit (NYSE:JBL) from $25.00 to $28.00 in a report released on Tuesday, StockRatingsNetwork reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ target price suggests a potential upside of 16.47% from the stock’s previous close.
Shares of Jabil Circuit (NYSE:JBL) traded up 2.82% during mid-day trading on Tuesday, hitting $24.04. The stock had a trading volume of 3,177,969 shares. Jabil Circuit has a 52-week low of $16.39 and a 52-week high of $24.09. The stock’s 50-day moving average is $23.1 and its 200-day moving average is $20.19. The company has a market cap of $4.872 billion and a price-to-earnings ratio of 14.81.
Jabil Circuit (NYSE:JBL) last released its earnings data on Wednesday, June 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts predict that Jabil Circuit will post $2.25 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company upgraded shares of Jabil Circuit (NYSE:JBL) from a “buy” rating to a “strong-buy” rating in a research note to investors on Tuesday. They now have a $28.00 price target on the stock, up previously from $24.00. Separately, analysts at Longbow Research reiterated a “buy” rating on shares of Jabil Circuit (NYSE:JBL) in a research note to investors on Tuesday, July 9th. They now have a $25.00 price target on the stock. Finally, analysts at UBS AG cut their EPS estimates on shares of Jabil Circuit (NYSE:JBL) in a research note on Thursday. They now have a $23.00 price target on the stock.
Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Jabil Circuit presently has an average rating of “Buy” and a consensus target price of $24.63.
In other Jabil Circuit news, Director Timothy Main sold 56,000 shares of the company’s stock on the open market in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $23.00, for a total transaction of $1,288,000.00. Following the completion of the sale, the director now directly owns 1,434,296 shares of the company’s stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Jabil Circuit, Inc (NYSE:JBL), is a providers of worldwide electronic manufacturing services and solutions.
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