Jabil (NYSE:JBL) Rating Lowered to Buy at Wall Street Zen

Jabil (NYSE:JBL) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Jabil from $180.00 to $214.00 and gave the company an “overweight” rating in a research report on Wednesday, June 18th. Stifel Nicolaus began coverage on shares of Jabil in a research report on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 price target for the company. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Wednesday, June 18th. Raymond James Financial restated a “strong-buy” rating and issued a $230.00 price target (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Finally, Barclays upped 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, June 17th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $225.71.

Jabil Trading Up 0.4%

Shares of NYSE:JBL opened at $221.92 on Friday. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 1.55 and a beta of 1.20. Jabil has a 1-year low of $95.85 and a 1-year high of $227.54. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The company has a 50 day moving average price of $185.78 and a 200 day moving average price of $161.34.

Jabil (NYSE:JBL) last issued 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. 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 firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. On average, research analysts anticipate that Jabil will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Jabil news, Director Anousheh Ansari sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total value of $222,750.00. Following the completion of the sale, the director owned 36,400 shares in the company, valued at $8,108,100. This represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $216.59, for a total transaction of $4,331,800.00. Following the transaction, the chairman owned 1,440,190 shares in the company, valued at approximately $311,930,752.10. This trade represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 297,431 shares of company stock worth $58,163,159. Insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in Jabil by 70,781.4% in the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after buying an additional 5,800,535 shares during the last quarter. Norges Bank acquired a new position in Jabil in the 4th quarter valued at $218,430,000. Point72 Asset Management L.P. grew its stake in Jabil by 1,007.6% in the 4th 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 last quarter. Jacobs Levy Equity Management Inc. grew its stake in Jabil by 119.9% in the 1st 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 last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Jabil in the 1st quarter valued at $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).