The Goldman Sachs Group Issues Positive Forecast for Jabil (NYSE:JBL) Stock Price

Jabil (NYSE:JBL) had its target price hoisted by The Goldman Sachs Group from $165.00 to $188.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. UBS Group boosted their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Barclays boosted their price objective on shares of Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.17.

Jabil Stock Up 0.4%

Jabil stock opened at $178.10 on Tuesday. The stock has a market cap of $19.12 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.65 and a beta of 1.14. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Jabil has a twelve month low of $95.85 and a twelve month high of $180.11. The company’s 50-day moving average price is $152.04 and its two-hundred day moving average price is $149.95.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. As a group, analysts expect that Jabil will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Thursday, May 15th. Jabil’s dividend payout ratio (DPR) is presently 7.66%.

Insider Activity at Jabil

In related news, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the transaction, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the completion of the transaction, the chairman now directly owns 1,710,192 shares in the company, valued at $285,174,516. This trade represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $7,665,200 over the last three months. 1.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JBL. First Hawaiian Bank lifted its stake in Jabil by 47.9% in the 1st quarter. First Hawaiian Bank now owns 10,647 shares of the technology company’s stock valued at $1,449,000 after purchasing an additional 3,447 shares during the last quarter. Inspire Investing LLC lifted its stake in Jabil by 52.0% in the 1st quarter. Inspire Investing LLC now owns 17,743 shares of the technology company’s stock valued at $2,414,000 after purchasing an additional 6,072 shares during the last quarter. Invst LLC bought a new position in Jabil in the 1st quarter valued at approximately $630,000. Modern Wealth Management LLC lifted its stake in Jabil by 21.1% in the 1st quarter. Modern Wealth Management LLC now owns 1,762 shares of the technology company’s stock valued at $240,000 after purchasing an additional 307 shares during the last quarter. Finally, Strs Ohio bought a new position in Jabil in the 1st quarter valued at approximately $26,118,000. 93.39% of the stock is owned by institutional investors.

About Jabil

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).