Jabil Circuit Inc. (JBL) Given a $24.00 Price Target at Bank of America Corp.
Jabil Circuit Inc. (NYSE:JBL) received a $24.00 price target from research analysts at Bank of America Corp. in a research note issued to investors on Tuesday. The firm presently has a a “buy” rating on the stock. Bank of America Corp.’s target price would suggest a potential upside of 3.63% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Jabil Circuit in a report on Tuesday. Goldman Sachs Group Inc. raised shares of Jabil Circuit from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $16.00 to $21.00 in a research note on Tuesday. B. Riley reaffirmed a “buy” rating and issued a $27.00 price objective (up previously from $22.00) on shares of Jabil Circuit in a research note on Monday. TheStreet raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. Finally, Zacks Investment Research raised shares of Jabil Circuit from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $31.42.
Shares of Jabil Circuit (NYSE:JBL) traded up 2.1585% during mid-day trading on Tuesday, reaching $23.6599. The company had a trading volume of 2,048,452 shares. Jabil Circuit has a 52-week low of $16.78 and a 52-week high of $26.00. The stock has a market capitalization of $4.52 billion, a P/E ratio of 15.0892 and a beta of 0.87. The company’s 50-day moving average is $21.17 and its 200 day moving average is $19.46.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.38%. Jabil Circuit’s dividend payout ratio is currently 20.38%.
In related news, CEO Michael J. Loparco sold 5,000 shares of Jabil Circuit stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total value of $101,150.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President William E. Peters sold 20,000 shares of Jabil Circuit stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total transaction of $465,000.00. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Jabil Circuit by 251.6% in the first quarter. JPMorgan Chase & Co. now owns 1,632,426 shares of the company’s stock valued at $31,457,000 after buying an additional 1,168,082 shares during the period. Columbia Partners L L C Investment Management increased its position in shares of Jabil Circuit by 19.6% in the first quarter. Columbia Partners L L C Investment Management now owns 39,309 shares of the company’s stock valued at $757,000 after buying an additional 6,439 shares during the period. BlackRock Group LTD increased its position in shares of Jabil Circuit by 3.9% in the first quarter. BlackRock Group LTD now owns 585,718 shares of the company’s stock valued at $11,286,000 after buying an additional 21,997 shares during the period. BlackRock Inc. increased its position in shares of Jabil Circuit by 17.9% in the first quarter. BlackRock Inc. now owns 89,153 shares of the company’s stock valued at $1,718,000 after buying an additional 13,557 shares during the period. Finally, Aston Asset Management LLC increased its position in shares of Jabil Circuit by 1.9% in the first quarter. Aston Asset Management LLC now owns 85,959 shares of the company’s stock valued at $1,656,000 after buying an additional 1,633 shares during the period. Hedge funds and other institutional investors own 89.92% 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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