Jabil (JBL) Upgraded at Argus

Jabil (NYSE:JBL) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a report released on Monday.

Other analysts also recently issued research reports about the stock. Raymond James Financial reaffirmed a “hold” rating on shares of Jabil in a report on Thursday. ValuEngine downgraded shares of Jabil from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. J P Morgan Chase & Co reissued a “buy” rating and set a $40.00 price objective on shares of Jabil in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of Jabil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $37.00 price objective on shares of Jabil in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Jabil presently has a consensus rating of “Hold” and a consensus price target of $30.50.

Jabil (JBL) opened at $27.87 on Monday. Jabil has a 52-week low of $22.78 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.54 and a current ratio of 0.96. The stock has a market cap of $4,928.98, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.55.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, December 14th. The technology company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.50 billion. Jabil had a net margin of 0.54% and a return on equity of 12.90%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. equities analysts anticipate that Jabil will post 2.22 earnings per share for the current fiscal year.

In related news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.02, for a total value of $870,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William E. Peters sold 3,580 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total transaction of $102,889.20. The disclosure for this sale can be found here. In the last three months, insiders sold 147,680 shares of company stock valued at $4,204,246. Company insiders own 2.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its holdings in Jabil by 8.9% in the third quarter. Parametric Portfolio Associates LLC now owns 717,446 shares of the technology company’s stock valued at $20,483,000 after purchasing an additional 58,900 shares during the period. AXA grew its stake in Jabil by 22.9% during the third quarter. AXA now owns 467,600 shares of the technology company’s stock worth $13,350,000 after buying an additional 87,000 shares during the period. California Public Employees Retirement System grew its stake in Jabil by 0.8% during the third quarter. California Public Employees Retirement System now owns 677,833 shares of the technology company’s stock worth $19,352,000 after buying an additional 5,418 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Jabil during the third quarter worth approximately $2,561,000. Finally, Highbridge Capital Management LLC purchased a new stake in Jabil during the third quarter worth approximately $3,426,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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About Jabil

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.

Analyst Recommendations for Jabil (NYSE:JBL)