Jabil (NYSE:JBL) Price Target Raised to $245.00 at Bank of America

Jabil (NYSE:JBL) had its price objective upped by Bank of America from $225.00 to $245.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on JBL. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their price target on shares of Jabil from $157.00 to $208.00 and gave the stock a “neutral” rating in a report on Wednesday. Wall Street Zen upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $230.00 price target (up previously from $170.00) on shares of Jabil in a report on Wednesday. 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $213.57.

Jabil Trading Up 0.5%

Shares of Jabil stock opened at $205.72 on Friday. The firm has a market capitalization of $22.08 billion, a PE ratio of 39.95, a P/E/G ratio of 1.97 and a beta of 1.14. Jabil has a twelve month low of $95.85 and a twelve month high of $208.69. The firm’s 50-day moving average price is $162.20 and its 200 day moving average price is $152.96. 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 issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.27. The firm had revenue of $7.83 billion for 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%. Jabil’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. On average, sell-side analysts predict that Jabil will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.16%. Jabil’s dividend payout ratio (DPR) is presently 6.21%.

Insider Activity at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $193.33, for a total value of $28,999,500.00. Following the completion of the transaction, the chairman now owns 1,560,192 shares of the company’s stock, valued at $301,631,919.36. This trade represents a 8.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Dastoor sold 10,000 shares of the firm’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 directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 277,976 shares of company stock worth $52,261,361. Insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Jabil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in Jabil in the 4th quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV purchased a new position in Jabil in the 1st quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Jabil during the 4th quarter worth $29,000. Harbor Capital Advisors Inc. lifted its position in shares of Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after purchasing an additional 116 shares during the last quarter. Finally, Groupe la Francaise lifted its position in shares of Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors 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).