Jabil (NYSE:JBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Jabil is benefiting from high growth in the healthcare & packaging business. Strong performance of the EMS segment is also a key growth driver. The company is also witnessing robust growth and better product placements, which is further expected to improve owing to strategic acquisitions. The restructuring program is also aiding the company to significantly cut back its expenses while maintaining its production capacities, thereby driving profitability. In the past one-year, the stock has outperformed the industry it belongs to. However, the company is negatively impacted by sluggishness in mobility business, customer concentration and intensifying competition.”
A number of other equities research analysts also recently issued reports on JBL. UBS Group reiterated a “buy” rating and issued a $35.00 target price on shares of Jabil in a research report on Tuesday, October 17th. ValuEngine downgraded shares of Jabil from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 4th. Raymond James Financial reiterated a “hold” rating on shares of Jabil in a research report on Thursday, December 14th. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Monday, December 18th. Finally, Goldman Sachs Group cut their target price on shares of Jabil to $24.00 and set a “sell” rating for the company in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $32.27.
Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, December 14th. The technology company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The business had revenue of $5.59 billion during 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 12.95%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. sell-side analysts predict that Jabil will post 2.06 EPS for the current year.
In related news, President William E. Peters sold 13,915 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $26.00, for a total value of $361,790.00. Following the transaction, the president now directly owns 608,499 shares in the company, valued at approximately $15,820,974. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $28.48, for a total transaction of $854,400.00. Following the completion of the transaction, the chief executive officer now owns 1,836,889 shares in the company, valued at $52,314,598.72. The disclosure for this sale can be found here. Insiders have sold a total of 89,830 shares of company stock worth $2,510,583 in the last 90 days. 2.60% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of JBL. NorthCoast Asset Management LLC grew its stake in Jabil by 689.6% in the 4th quarter. NorthCoast Asset Management LLC now owns 940,389 shares of the technology company’s stock valued at $24,685,000 after buying an additional 821,294 shares during the last quarter. Bank of New York Mellon Corp grew its position in Jabil by 31.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,167,430 shares of the technology company’s stock worth $83,147,000 after purchasing an additional 763,647 shares during the last quarter. LSV Asset Management grew its position in Jabil by 18.7% in the 4th quarter. LSV Asset Management now owns 4,725,209 shares of the technology company’s stock worth $124,036,000 after purchasing an additional 745,305 shares during the last quarter. BlackRock Inc. grew its position in Jabil by 4.1% in the 4th quarter. BlackRock Inc. now owns 15,673,789 shares of the technology company’s stock worth $411,435,000 after purchasing an additional 616,359 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Jabil by 76.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,340,759 shares of the technology company’s stock worth $35,195,000 after purchasing an additional 580,370 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.
Jabil Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jabil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil and related companies with MarketBeat.com's FREE daily email newsletter.