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

Jabil (NYSE:JBL) had its price target lifted by The Goldman Sachs Group from $188.00 to $215.00 in a report published on Wednesday, MarketBeat.com reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. UBS Group lifted their target price on shares of Jabil from $157.00 to $208.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Jabil from $180.00 to $214.00 and gave the company an “overweight” rating in a report on Wednesday. Argus raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays lifted their target price on shares of Jabil from $206.00 to $223.00 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, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $200.00.

Jabil Price Performance

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

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

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders 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 of this dividend was Thursday, May 15th. Jabil’s dividend payout ratio is presently 6.21%.

Insider Buying and Selling

In related 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 completion of the transaction, the chairman now owns 1,730,192 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the sale, the chief executive officer now owns 221,693 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 50,000 shares of company stock valued at $7,665,200. Insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Jabil by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company’s stock worth $892,096,000 after acquiring an additional 747,423 shares during the period. FMR LLC increased its holdings in shares of Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock worth $796,220,000 after acquiring an additional 416,841 shares during the period. Geode Capital Management LLC increased its holdings in shares of Jabil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock worth $404,024,000 after acquiring an additional 34,574 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Jabil by 15.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company’s stock worth $295,693,000 after acquiring an additional 295,496 shares during the period. Finally, Norges Bank acquired a new stake in shares of Jabil in the 4th quarter worth about $218,430,000. 93.39% of the stock is currently 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).