Goldman Sachs Group Inc. Upgrades Jabil Circuit to Conviction-Buy (JBL)
Jabil Circuit (NYSE:JBL) was upgraded by equities research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “conviction-buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Jabil Circuit (NYSE:JBL) traded down 0.67% on Tuesday, hitting $17.77. 3,118,126 shares of the company’s stock traded hands. Jabil Circuit has a one year low of $15.30 and a one year high of $24.32. The stock’s 50-day moving average is $18.16 and its 200-day moving average is $21.22. The company has a market cap of $3.665 billion and a price-to-earnings ratio of 9.68.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Tuesday, December 17th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.55 by $0.04. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that Jabil Circuit will post $1.11 earnings per share for the current fiscal year.
A number of other firms have also recently commented on JBL. Analysts at TheStreet downgraded shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research note to investors on Thursday, January 2nd. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Jabil Circuit in a research note to investors on Friday, December 20th. They now have a $17.00 price target on the stock, down previously from $20.00. Finally, analysts at Scotiabank downgraded shares of Jabil Circuit to an “underperform” rating in a research note to investors on Wednesday, December 18th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $22.33.
Jabil Circuit, Inc (NYSE:JBL), is a providers of worldwide electronic manufacturing services and solutions.
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