Jabil Circuit Inc. (JBL) Downgraded by Standpoint Research to Hold
Jabil Circuit Inc. (NYSE:JBL) was downgraded by research analysts at Standpoint Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They presently have a $26.00 target price on the stock. Standpoint Research’s price target suggests a potential upside of 9.57% from the company’s previous close.
Other research analysts also recently issued reports about the company. Raymond James Financial Inc. raised Jabil Circuit from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $21.00 to $26.00 in a research note on Friday, July 15th. Goldman Sachs Group Inc. raised Jabil Circuit from a “sell” rating to a “neutral” rating and upped their price target for the stock from $16.00 to $21.00 in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Jabil Circuit in a research note on Tuesday. UBS AG dropped their price target on Jabil Circuit from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 price target on shares of Jabil Circuit in a research note on Friday, June 10th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.46.
Shares of Jabil Circuit (NYSE:JBL) traded down 5.626% on Thursday, hitting $22.395. The stock had a trading volume of 5,201,873 shares. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 14.283 and a beta of 0.87. The company has a 50-day moving average of $21.27 and a 200 day moving average of $19.49. Jabil Circuit has a 52 week low of $16.78 and a 52 week high of $26.00.
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Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, September 21st. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Jabil Circuit had a return on equity of 14.04% and a net margin of 1.63%. The company had revenue of $4.40 billion for the quarter. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities research analysts predict that Jabil Circuit will post $1.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.35%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is 20.38%.
In other Jabil Circuit 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 transaction of $43,800.00. Following the completion of the transaction, the chief executive officer now directly owns 241,092 shares of the company’s stock, valued at $5,279,914.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President William E. Peters sold 20,000 shares of the stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total value of $465,000.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in JBL. State Street Corp raised its position in shares of Jabil Circuit by 0.4% in the first quarter. State Street Corp now owns 6,957,106 shares of the company’s stock valued at $134,060,000 after buying an additional 29,792 shares during the period. Eqis Capital Management Inc. raised its position in shares of Jabil Circuit by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 15,195 shares of the company’s stock valued at $281,000 after buying an additional 673 shares during the period. Norges Bank purchased a new position in shares of Jabil Circuit during the fourth quarter valued at $46,756,000. Aston Asset Management LLC raised 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. Finally, Princeton Alpha Management LP raised its position in shares of Jabil Circuit by 81.6% in the second quarter. Princeton Alpha Management LP now owns 69,639 shares of the company’s stock valued at $1,286,000 after buying an additional 31,288 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.
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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