StockNews.com Downgrades Jabil (NYSE:JBL) to Buy

Jabil (NYSE:JBL) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a research report on Thursday. UBS Group increased their price target on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America lifted their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. reduced their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.50.

Jabil Stock Performance

Shares of JBL stock traded down $3.25 during trading hours on Thursday, hitting $140.44. The stock had a trading volume of 2,413,553 shares, compared to its average volume of 1,433,563. The stock’s 50 day moving average is $130.72 and its 200 day moving average is $118.12. The firm has a market capitalization of $15.69 billion, a PE ratio of 12.74, a PEG ratio of 1.57 and a beta of 1.25. Jabil has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.12. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same period last year, the firm posted $2.60 EPS. Jabil’s revenue for the quarter was down 16.6% on a year-over-year basis. As a group, research analysts forecast that Jabil will post 7.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the transaction, the executive vice president now owns 18,568 shares in the company, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,689 shares of company stock valued at $5,377,431. Corporate insiders own 1.73% of the company’s stock.

Institutional Trading of Jabil

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings in Jabil by 12,251.7% during the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after buying an additional 2,188,521 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Jabil during the 2nd quarter worth about $78,660,000. AQR Capital Management LLC raised its position in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after buying an additional 702,199 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Jabil by 406.5% during the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after buying an additional 580,100 shares during the period. Finally, FMR LLC grew its stake in Jabil by 11.3% in the 3rd quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock worth $613,087,000 after acquiring an additional 520,672 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

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).