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Shares of Jabil Circuit (NYSE:JBL) saw strong trading volume on Thursday following a better than expected earnings announcement, AR Network reports. 2,458,592 shares changed hands during trading, an increase of 62% from the previous session’s volume of 1,515,778 shares.The stock last traded at $20.39 and had previously closed at $20.10.

The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.09) by $0.03. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the company posted $0.56 earnings per share. Jabil Circuit’s revenue was down 9.8% compared to the same quarter last year.

Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Jabil Circuit in a research note on Thursday. They now have a $16.50 price target on the stock, up previously from $15.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Jabil Circuit in a research note on Friday, May 23rd. They now have a $19.00 price target on the stock. Finally, analysts at RBC Capital downgraded shares of Jabil Circuit from an “outperform” rating to a “sector perform” rating in a research note on Monday, April 21st. They now have a $20.00 price target on the stock, down previously from $21.00. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.25.

In other Jabil Circuit news, COO William D. Muir, Jr. sold 15,000 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total value of $300,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

The stock’s 50-day moving average is $18.50 and its 200-day moving average is $18.18. The company has a market cap of $4.151 billion and a price-to-earnings ratio of 16.25.

Jabil Circuit, Inc (NYSE:JBL), is a providers of worldwide electronic manufacturing services and solutions.

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