Barclays Initiates Coverage on Jabil (NYSE:JBL)

Equities researchers at Barclays assumed coverage on shares of Jabil (NYSE:JBL) in a report released on Thursday, Marketbeat reports. The brokerage set an “overweight” rating and a $134.00 price target on the technology company’s stock. Barclays‘s price objective indicates a potential upside of 24.86% from the stock’s current price.

A number of other equities analysts also recently commented on JBL. StockNews.com began coverage on shares of Jabil in a report on Friday, August 18th. They issued a “hold” rating for the company. Credit Suisse Group lifted their price target on shares of Jabil from $110.00 to $125.00 in a report on Friday, June 16th. Bank of America increased their price objective on Jabil from $91.00 to $108.00 in a report on Monday, June 12th. JPMorgan Chase & Co. began coverage on Jabil in a research report on Wednesday, July 5th. They issued an “overweight” rating and a $110.00 price objective for the company. Finally, VNET Group reaffirmed a “maintains” rating on shares of Jabil in a research report on Friday, June 16th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.67.

Jabil Stock Down 1.2 %

Shares of NYSE JBL opened at $107.32 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Jabil has a 12-month low of $55.26 and a 12-month high of $117.29. The firm’s 50-day moving average price is $109.46 and its 200-day moving average price is $94.59. The stock has a market capitalization of $14.05 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.08 and a beta of 1.46.

Jabil (NYSE:JBL) last released its earnings results on Thursday, June 15th. The technology company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.12. Jabil had a return on equity of 39.61% and a net margin of 2.77%. The firm had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the previous year, the company posted $1.52 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Jabil will post 7.94 EPS for the current fiscal year.

Insider Activity at Jabil

In other Jabil news, Director Anousheh Ansari sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $108.61, for a total value of $325,830.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $4,127,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jabil

Hedge funds have recently added to or reduced their stakes in the business. Jag Capital Management LLC increased its holdings in Jabil by 31.0% during the 2nd quarter. Jag Capital Management LLC now owns 3,139 shares of the technology company’s stock worth $339,000 after purchasing an additional 743 shares during the period. ST Germain D J Co. Inc. purchased a new stake in shares of Jabil during the second quarter worth approximately $41,000. Western Wealth Management LLC acquired a new stake in Jabil in the second quarter valued at approximately $283,000. Delphi Management Inc. MA purchased a new position in Jabil in the second quarter worth approximately $1,536,000. Finally, Virginia Retirement Systems ET AL acquired a new position in Jabil during the 2nd quarter worth approximately $2,882,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).