Jabil (NYSE:JBL) Price Target Raised to $208.00 at UBS Group

Jabil (NYSE:JBL) had its target price raised by UBS Group from $157.00 to $208.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. UBS Group currently has a neutral rating on the technology company’s stock.

A number of other research firms have also recently weighed in on JBL. Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. The Goldman Sachs Group upped their target price on shares of Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Argus raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays upped their price objective on shares of Jabil from $184.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Jabil has an average rating of “Buy” and an average price target of $200.00.

Jabil Stock Performance

Shares of JBL opened at $204.43 on Wednesday. The company’s fifty day moving average price is $159.27 and its 200 day moving average price is $152.00. The company has a market capitalization of $21.94 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.66. Jabil has a one year low of $95.85 and a one year high of $207.10.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, analysts expect that Jabil will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. Jabil’s payout ratio is 6.21%.

Insider Transactions at Jabil

In other news, Chairman Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the transaction, the chairman now directly owns 1,730,192 shares in the company, valued at approximately $227,624,059.52. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the transaction, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock worth $7,665,200. Corporate insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Jabil

Several large investors have recently bought and sold shares of JBL. Wellington Management Group LLP lifted its holdings in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after buying an additional 5,800,535 shares during the period. Norges Bank bought a new position in Jabil during the fourth quarter worth about $218,430,000. Point72 Asset Management L.P. grew its stake in Jabil by 1,007.6% in the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock valued at $138,954,000 after acquiring an additional 878,444 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Jabil by 119.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company’s stock worth $165,417,000 after acquiring an additional 662,938 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Jabil during the first quarter worth about $81,378,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

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).