Jabil (NYSE:JBL) Upgraded by Argus to “Buy” Rating

Argus upgraded shares of Jabil (NYSE:JBL) from a hold rating to a buy rating in a report published on Wednesday, Marketbeat Ratings reports.

Other equities research analysts have also recently issued reports about the stock. 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 research 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 research report on Tuesday, June 10th. JPMorgan Chase & Co. lowered their price target on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. Finally, The Goldman Sachs Group upped their price target on shares of Jabil from $165.00 to $188.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $200.00.

Jabil Stock Performance

Jabil stock opened at $204.43 on Wednesday. The company’s 50-day moving average price is $159.27 and its 200-day moving average price is $152.00. Jabil has a twelve month low of $95.85 and a twelve month high of $207.10. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The company has a market cap 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.

Jabil (NYSE:JBL) last released its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts forecast that Jabil will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Michael Dastoor sold 10,000 shares of the business’s 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. The trade was a 4.32% decrease in their position. The transaction 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 the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the sale, the chairman now owns 1,730,192 shares in the company, valued at $227,624,059.52. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $7,665,200 in the last 90 days. 1.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Truist Financial Corp increased its stake in shares of Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after acquiring an additional 4,034 shares during the period. Keybank National Association OH acquired a new stake in shares of Jabil in the fourth quarter worth $214,000. Principal Financial Group Inc. increased its stake in shares of Jabil by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock worth $20,616,000 after acquiring an additional 5,993 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after acquiring an additional 116 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Jabil by 23.5% in the fourth quarter. LPL Financial LLC now owns 40,748 shares of the technology company’s stock worth $5,864,000 after acquiring an additional 7,747 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

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).