Jabil Circuit, Inc. (JBL) Upgraded to Strong-Buy by ValuEngine
Jabil Circuit, Inc. (NYSE:JBL) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.
JBL has been the subject of a number of other reports. BidaskClub downgraded shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Macquarie initiated coverage on shares of Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating for the company. J P Morgan Chase & Co initiated coverage on shares of Jabil Circuit in a research note on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 target price for the company. Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, June 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 target price on shares of Jabil Circuit in a research note on Friday, September 1st. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $29.31.
Shares of Jabil Circuit (NYSE JBL) traded down 0.23% during midday trading on Thursday, hitting $30.36. 1,476,675 shares of the company’s stock traded hands. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 46.71 and a beta of 0.55. Jabil Circuit has a 1-year low of $20.32 and a 1-year high of $31.70. The company has a 50 day moving average price of $30.45 and a 200 day moving average price of $29.26.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Equities analysts anticipate that Jabil Circuit will post $2.09 earnings per share for the current year.
Jabil Circuit announced that its board has authorized a share buyback program on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/09/07/jabil-circuit-inc-jbl-upgraded-to-strong-buy-by-valuengine.html.
In related news, Director Frank A. Newman sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $29.52, for a total transaction of $1,771,200.00. Following the completion of the sale, the director now directly owns 127,665 shares of the company’s stock, valued at $3,768,670.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO William D. Muir, Jr. sold 19,866 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $29.34, for a total transaction of $582,868.44. Following the sale, the chief operating officer now directly owns 597,085 shares of the company’s stock, valued at $17,518,473.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,387 shares of company stock valued at $5,111,014. 2.90% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. KBC Group NV increased its stake in Jabil Circuit by 63.0% in the first quarter. KBC Group NV now owns 252,871 shares of the technology company’s stock valued at $7,313,000 after purchasing an additional 97,765 shares in the last quarter. Teachers Advisors LLC increased its stake in Jabil Circuit by 0.4% in the first quarter. Teachers Advisors LLC now owns 502,040 shares of the technology company’s stock valued at $14,519,000 after purchasing an additional 2,138 shares in the last quarter. PGGM Investments increased its stake in Jabil Circuit by 2.7% in the second quarter. PGGM Investments now owns 113,091 shares of the technology company’s stock valued at $3,301,000 after purchasing an additional 3,006 shares in the last quarter. Martingale Asset Management L P bought a new stake in Jabil Circuit in the first quarter valued at approximately $4,465,000. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in Jabil Circuit by 47.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,085,785 shares of the technology company’s stock valued at $31,399,000 after purchasing an additional 349,612 shares in the last quarter. 93.00% of the stock is owned by hedge funds and other institutional investors.
About Jabil Circuit
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Jabil Circuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil Circuit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.