Jabil Circuit Inc. (JBL) Shares Down 5.4% After Insider Selling
Jabil Circuit Inc. (NYSE:JBL) dropped 5.4% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $21.84 and last traded at $22.44, with a volume of 4,798,690 shares changing hands. The stock had previously closed at $23.73.
Specifically, CEO Michael J. Loparco sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total transaction of $101,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Loparco sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $22.90, for a total transaction of $45,800.00. Following the sale, the chief executive officer now owns 239,092 shares of the company’s stock, valued at $5,475,206.80. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on JBL shares. Needham & Company LLC cut shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America Corp. restated a “buy” rating on shares of Jabil Circuit in a research report on Thursday, June 16th. B. Riley restated a “buy” rating and set a $27.00 price objective (up from $22.00) on shares of Jabil Circuit in a research report on Monday. Citigroup Inc. raised their price objective on shares of Jabil Circuit from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Argus reiterated a “hold” rating on shares of Jabil Circuit in a research report on Thursday, June 16th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Jabil Circuit has an average rating of “Hold” and an average target price of $31.46.
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The stock has a market capitalization of $4.29 billion, a P/E ratio of 14.308 and a beta of 0.87. The stock has a 50-day moving average price of $21.27 and a 200 day moving average price of $19.49.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $4.40 billion for the quarter. Jabil Circuit had a return on equity of 14.04% and a net margin of 1.63%. Jabil Circuit’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. Analysts forecast that Jabil Circuit Inc. will post $1.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, August 11th. Jabil Circuit’s payout ratio is currently 20.38%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC purchased a new position in Jabil Circuit during the second quarter worth about $181,000. Calvert Investment Management Inc. bought a new position in Jabil Circuit during the second quarter worth $201,000. LS Investment Advisors LLC raised 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 period. LPL Financial LLC raised 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 period. Finally, World Asset Management Inc raised 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 period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
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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