Jabil (NYSE:JBL) Price Target Raised to $214.00 at JPMorgan Chase & Co.

Jabil (NYSE:JBL) had its price target upped by JPMorgan Chase & Co. from $180.00 to $214.00 in a research note issued to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on JBL. Wall Street Zen upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. The Goldman Sachs Group boosted their target price on shares of Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays lifted their price target on shares of Jabil from $206.00 to $223.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group lifted their price target on shares of Jabil from $157.00 to $208.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Jabil currently has an average rating of “Buy” and a consensus target price of $200.00.

Jabil Stock Up 3.8%

Shares of NYSE JBL opened at $204.43 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. Jabil has a 52 week low of $95.85 and a 52 week high of $207.10. The firm has a 50-day moving average price of $159.27 and a 200 day moving average price of $152.00. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14.

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

Jabil Dividend Announcement

The company 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 currently 6.21%.

Insiders Place Their Bets

In related news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the completion of the sale, the chairman now directly owns 1,710,192 shares of the company’s stock, valued at approximately $285,174,516. This represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Dastoor sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock valued at $7,665,200. 1.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jabil

Institutional investors and hedge funds have recently modified their holdings of the company. Voya Investment Management LLC increased its holdings in shares of Jabil by 29.1% in the first quarter. Voya Investment Management LLC now owns 142,173 shares of the technology company’s stock valued at $19,345,000 after purchasing an additional 32,070 shares during the last quarter. First Hawaiian Bank boosted its holdings in shares of Jabil by 47.9% during the 1st quarter. First Hawaiian Bank now owns 10,647 shares of the technology company’s stock worth $1,449,000 after buying an additional 3,447 shares during the period. Inspire Investing LLC grew 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 buying an additional 6,072 shares during the last quarter. Invst LLC bought a new position in Jabil in the 1st quarter valued at about $630,000. Finally, Modern Wealth Management LLC lifted its position in Jabil by 21.1% during the first quarter. Modern Wealth Management LLC now owns 1,762 shares of the technology company’s stock worth $240,000 after acquiring an additional 307 shares during the last quarter. 93.39% of the stock is owned by institutional investors.

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).