Jabil Circuit Inc. (JBL) Earns “Buy” Rating from Needham & Company LLC
Jabil Circuit Inc. (NYSE:JBL)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Tuesday. They currently have a $23.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential downside of 0.61% from the company’s previous close.
JBL has been the topic of several other research reports. Goldman Sachs Group Inc. cut shares of Jabil Circuit from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $19.00 to $17.00 in a report on Tuesday, June 7th. TheStreet upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a report on Thursday, September 8th. Bank of America Corp. restated a “buy” rating on shares of Jabil Circuit in a report on Thursday, June 16th. UBS AG dropped their target price on shares of Jabil Circuit from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, June 16th. Finally, Zacks Investment Research cut shares of Jabil Circuit from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $32.09.
Jabil Circuit (NYSE:JBL) traded up 0.6258% on Tuesday, hitting $23.2848. 869,033 shares of the stock traded hands. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 14.8500 and a beta of 0.87. Jabil Circuit has a 52-week low of $16.78 and a 52-week high of $26.00. The company’s 50 day moving average price is $21.09 and its 200-day moving average price is $19.45.
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The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.38%. Jabil Circuit’s dividend payout ratio is currently 20.38%.
In other Jabil Circuit news, CEO Michael J. Loparco sold 2,000 shares of Jabil Circuit stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $21.90, for a total value of $43,800.00. Following the sale, the chief executive officer now directly owns 241,092 shares in the company, valued at approximately $5,279,914.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Jabil Circuit by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 33,007 shares of the company’s stock worth $610,000 after buying an additional 132 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Jabil Circuit during the second quarter worth about $1,610,000. Calvert Investment Management Inc. bought a new stake in shares of Jabil Circuit during the second quarter worth about $201,000. Walthausen & Co. LLC bought a new stake in shares of Jabil Circuit during the second quarter worth about $6,436,000. Finally, Amalgamated Bank increased its stake in shares of Jabil Circuit by 8.4% in the second quarter. Amalgamated Bank now owns 25,457 shares of the company’s stock worth $532,000 after buying an additional 1,971 shares in the last quarter. Institutional investors own 90.12% of the company’s stock.
Jabil Circuit Company Profile
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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