Jabil Circuit Inc. (NYSE:JBL) was downgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, The Fly reports.

Several other brokerages have also commented on JBL. Bank of America Corp. reaffirmed a “buy” rating on shares of Jabil Circuit in a report on Thursday, June 16th. 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 report on Monday. Argus reaffirmed a “hold” rating on shares of Jabil Circuit in a report on Thursday, June 16th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Jabil Circuit in a report on Saturday, June 18th. Finally, Deutsche Bank AG cut their price objective on Jabil Circuit from $21.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, June 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $31.67.

Analyst Recommendations for Jabil Circuit (NYSE:JBL)

Shares of Jabil Circuit (NYSE:JBL) opened at 23.73 on Thursday. The firm has a 50 day moving average price of $21.27 and a 200 day moving average price of $19.49. The stock has a market cap of $4.53 billion, a PE ratio of 15.13 and a beta of 0.87. Jabil Circuit has a 12-month low of $16.78 and a 12-month high of $26.00.

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Jabil Circuit (NYSE:JBL) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm earned $4.40 billion during the quarter. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities analysts expect that Jabil Circuit will post $1.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is 20.38%.

In other news, President William E. Peters sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total value of $465,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Loparco sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $20.23, for a total value of $101,150.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Jabil Circuit during the fourth quarter worth $46,756,000. PGGM Investments increased its stake in Jabil Circuit by 2.5% in the first quarter. PGGM Investments now owns 117,746 shares of the company’s stock worth $2,269,000 after buying an additional 2,873 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Jabil Circuit by 51.7% in the first quarter. Glenmede Trust Co. NA now owns 1,409,345 shares of the company’s stock worth $27,157,000 after buying an additional 480,424 shares in the last quarter. Aperio Group LLC increased its stake in Jabil Circuit by 47.1% in the first quarter. Aperio Group LLC now owns 55,686 shares of the company’s stock worth $1,073,000 after buying an additional 17,826 shares in the last quarter. Finally, Ramsey Quantitative Systems increased its stake in Jabil Circuit by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 27,443 shares of the company’s stock worth $529,000 after buying an additional 1,423 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

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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