Jabil Circuit, Inc. (JBL) CEO Erich Hoch Sells 2,500 Shares
Jabil Circuit, Inc. (NYSE:JBL) CEO Erich Hoch sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $28.49, for a total transaction of $71,225.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Erich Hoch also recently made the following trade(s):
- On Tuesday, July 25th, Erich Hoch sold 521 shares of Jabil Circuit stock. The stock was sold at an average price of $30.99, for a total transaction of $16,145.79.
Shares of Jabil Circuit, Inc. (NYSE:JBL) traded up 0.87% during mid-day trading on Tuesday, reaching $28.86. 2,455,492 shares of the company’s stock were exchanged. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 44.40 and a beta of 0.59. The stock’s 50-day moving average is $29.94 and its 200-day moving average is $29.75. Jabil Circuit, Inc. has a 52-week low of $20.32 and a 52-week high of $31.70.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. Jabil Circuit’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, equities analysts expect that Jabil Circuit, Inc. will post $2.58 EPS for the current year.
Jabil Circuit announced that its Board of Directors has initiated a share buyback plan on Thursday, July 20th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
A number of analysts have recently weighed in on JBL shares. Bank of America Corporation reaffirmed a “buy” rating and issued a $34.00 price target (up from $33.00) on shares of Jabil Circuit in a research note on Monday, June 19th. Macquarie started coverage on shares of Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating for the company. ValuEngine raised shares of Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. BidaskClub lowered shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Jabil Circuit from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $28.00 to $26.00 in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $30.50.
Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock valued at $236,000 after acquiring an additional 109 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Jabil Circuit by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock valued at $1,482,000 after acquiring an additional 194 shares during the period. IHT Wealth Management LLC boosted its position in shares of Jabil Circuit by 142.6% in the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after acquiring an additional 211 shares during the period. Colonial Trust Advisors boosted its position in shares of Jabil Circuit by 3.5% in the first quarter. Colonial Trust Advisors now owns 14,800 shares of the technology company’s stock valued at $431,000 after acquiring an additional 500 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Jabil Circuit by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 41,972 shares of the technology company’s stock valued at $1,214,000 after acquiring an additional 502 shares during the period. 92.86% of the stock is owned by 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.
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