Jabil’s (JBL) Strong-Buy Rating Reaffirmed at Raymond James Financial

Raymond James Financial reissued their strong-buy rating on shares of Jabil (NYSE:JBL) in a report published on Wednesday morning, Marketbeat reports. Raymond James Financial currently has a $230.00 price objective on the technology company’s stock, up from their previous price objective of $170.00.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their target price on Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday. Argus raised Jabil from a “hold” rating to a “buy” rating in a report on Wednesday. Wall Street Zen raised Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Barclays lifted their target price on Jabil from $206.00 to $223.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on Jabil from $180.00 to $214.00 and gave the stock an “overweight” rating in a report on Wednesday. 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 company. According to MarketBeat, Jabil presently has a consensus rating of “Buy” and an average price target of $200.00.

Jabil Trading Up 3.8%

Shares of Jabil stock opened at $204.43 on Wednesday. The business has a fifty day simple moving average of $159.27 and a two-hundred day simple moving average of $152.00. Jabil has a 1 year low of $95.85 and a 1 year high of $207.10. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 39.69, a P/E/G 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 (NYSE:JBL) last announced its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter last year, the firm posted $1.89 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Research analysts forecast that Jabil will post 8.05 EPS for the current year.

Jabil Dividend Announcement

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

Insider Buying and Selling

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of Jabil 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Dastoor sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was 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 approximately $37,665,640.70. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock worth $7,665,200. Company insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

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

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).