Jabil Circuit, Inc. (JBL) CEO Sells $76,996.40 in Stock
Jabil Circuit, Inc. (NYSE:JBL) CEO Erich Hoch sold 2,680 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $28.73, for a total value of $76,996.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Erich Hoch also recently made the following trade(s):
- On Monday, October 16th, Erich Hoch sold 2,500 shares of Jabil Circuit stock. The shares were sold at an average price of $28.49, for a total value of $71,225.00.
- On Tuesday, July 25th, Erich Hoch sold 521 shares of Jabil Circuit stock. The shares were sold at an average price of $30.99, for a total value of $16,145.79.
Shares of Jabil Circuit, Inc. (NYSE JBL) traded up 0.45% during trading on Wednesday, hitting $28.99. The company’s stock had a trading volume of 2,082,125 shares. The company has a 50-day moving average price of $29.94 and a 200-day moving average price of $29.75. Jabil Circuit, Inc. has a one year low of $20.32 and a one year high of $31.70. The stock has a market cap of $5.20 billion, a PE ratio of 44.60 and a beta of 0.59.
Jabil Circuit (NYSE:JBL) last posted its quarterly 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. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts predict that Jabil Circuit, Inc. will post $2.58 EPS for the current fiscal year.
Jabil Circuit announced that its board has initiated a share buyback plan on Thursday, July 20th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC lifted its position in shares of Jabil Circuit by 1.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 150,800 shares of the technology company’s stock valued at $4,402,000 after acquiring an additional 2,800 shares during the period. USA Financial Portformulas Corp acquired a new stake in shares of Jabil Circuit during the 2nd quarter valued at approximately $757,000. Afam Capital Inc. lifted its position in shares of Jabil Circuit by 4.1% during the 2nd quarter. Afam Capital Inc. now owns 119,566 shares of the technology company’s stock valued at $3,490,000 after acquiring an additional 4,702 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Jabil Circuit by 30.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 166,421 shares of the technology company’s stock valued at $4,858,000 after acquiring an additional 38,513 shares during the period. Finally, Koch Industries Inc. acquired a new stake in shares of Jabil Circuit during the 2nd quarter valued at approximately $306,000. Institutional investors own 92.86% of the company’s stock.
JBL has been the subject of several analyst reports. Macquarie initiated coverage on Jabil Circuit in a report on Thursday, June 22nd. They issued an “outperform” rating for the company. ValuEngine raised Jabil Circuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. BidaskClub cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Bank of America Corporation cut Jabil Circuit from a “buy” rating to a “neutral” rating in a report on Monday, September 25th. They noted that the move was a valuation call. Finally, Goldman Sachs Group, Inc. (The) cut Jabil Circuit from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $28.00 to $26.00 in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $30.50.
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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