Jabil (NYSE:JBL) Raised to “Strong-Buy” at Wall Street Zen

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

Several other research analysts have also recently weighed in on JBL. Barclays lifted their price target on shares of Jabil from $223.00 to $267.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Jabil in a research note on Saturday, September 27th. Stifel Nicolaus assumed coverage on shares of Jabil in a research note on Wednesday, July 2nd. They set a “buy” rating and a $245.00 target price on the stock. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Jabil from $214.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and an average price target of $248.43.

Jabil Trading Down 6.2%

Shares of Jabil stock opened at $202.22 on Friday. The company’s fifty day simple moving average is $215.60 and its 200-day simple moving average is $187.15. The stock has a market capitalization of $21.70 billion, a PE ratio of 33.93, a P/E/G ratio of 1.43 and a beta of 1.26. Jabil has a 1-year low of $108.66 and a 1-year high of $237.14. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.00 and a quick ratio of 0.66.

Insider Activity at Jabil

In other Jabil news, Director Steven A. Raymund sold 13,432 shares of Jabil stock in a transaction on Monday, July 21st. The shares were sold at an average price of $223.11, for a total value of $2,996,813.52. Following the sale, the director directly owned 86,396 shares in the company, valued at approximately $19,275,811.56. The trade was a 13.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew Priestley sold 3,702 shares of Jabil stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total transaction of $832,950.00. Following the completion of the sale, the executive vice president owned 44,833 shares in the company, valued at approximately $10,087,425. This represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,416 shares of company stock valued at $18,367,889. 1.73% of the stock is currently owned by insiders.

Institutional Trading of Jabil

A number of large investors have recently made changes to their positions in JBL. Norges Bank bought a new stake in shares of Jabil in the 2nd quarter worth about $323,338,000. Boston Partners increased its holdings in shares of Jabil by 224.4% in the 2nd quarter. Boston Partners now owns 1,898,681 shares of the technology company’s stock worth $414,119,000 after buying an additional 1,313,338 shares during the last quarter. 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 buying an additional 747,423 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of 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 worth $165,417,000 after buying an additional 662,938 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Jabil by 4,593.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 636,776 shares of the technology company’s stock worth $138,881,000 after buying an additional 623,208 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

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).