Jabil Circuit’s (JBL) Buy Rating Reiterated at Needham & Company LLC
Jabil Circuit Inc. (NYSE:JBL)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Tuesday. They presently have a $23.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential downside of 0.61% from the company’s current price.
A number of other equities research analysts have also issued reports on JBL. B. Riley reaffirmed a “buy” rating and issued a $27.00 target price (up previously from $22.00) on shares of Jabil Circuit in a research note on Monday. Royal Bank Of Canada reiterated a “hold” rating on shares of Jabil Circuit in a report on Saturday, June 18th. TheStreet downgraded Jabil Circuit to a “sell” rating in a report on Thursday, May 26th. Argus reiterated a “hold” rating on shares of Jabil Circuit in a report on Thursday, June 16th. Finally, Zacks Investment Research downgraded Jabil Circuit from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.09.
Jabil Circuit (NYSE:JBL) traded up 0.56% on Tuesday, reaching $23.27. The company had a trading volume of 589,535 shares. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 14.84 and a beta of 0.87. The stock’s 50-day moving average price is $21.09 and its 200 day moving average price is $19.45. Jabil Circuit has a 52-week low of $16.78 and a 52-week high of $26.00.
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The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors 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 annualized dividend and a yield of 1.38%. Jabil Circuit’s dividend payout ratio is currently 20.38%.
In related news, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $21.90, for a total value of $43,800.00. Following the completion of 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 can be accessed through the SEC website. 2.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in JBL. Quantitative Systematic Strategies LLC bought a new stake in shares of Jabil Circuit during the second quarter valued at about $181,000. Calvert Investment Management Inc. purchased a new position in Jabil Circuit during the second quarter worth $201,000. LS Investment Advisors LLC boosted its position in Jabil Circuit by 71.2% in the second quarter. LS Investment Advisors LLC now owns 11,551 shares of the company’s stock worth $213,000 after buying an additional 4,802 shares during the last quarter. LPL Financial LLC boosted its position in Jabil Circuit by 22.8% in the first quarter. LPL Financial LLC now owns 11,912 shares of the company’s stock worth $222,000 after buying an additional 2,209 shares during the last quarter. Finally, World Asset Management Inc boosted its position in Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock worth $221,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.
About Jabil Circuit
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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