Barclays Forecasts Strong Price Appreciation for Jabil (NYSE:JBL) Stock

Jabil (NYSE:JBL) had its target price upped by analysts at Barclays from $179.00 to $184.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 27.07% from the company’s previous close.

A number of other research analysts also recently weighed in on JBL. The Goldman Sachs Group increased their price target on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, February 24th. UBS Group boosted their target price on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.50.

Jabil Trading Up 0.7 %

Jabil stock traded up $0.97 during mid-day trading on Friday, hitting $144.80. The stock had a trading volume of 659,103 shares, compared to its average volume of 1,340,397. The stock has a 50-day simple moving average of $156.14 and a two-hundred day simple moving average of $137.66. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $15.81 billion, a PE ratio of 13.88, a P/E/G ratio of 1.65 and a beta of 1.19. Jabil has a 12 month low of $95.85 and a 12 month high of $174.80.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the previous year, the company earned $1.68 EPS. Jabil’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Jabil will post 8.05 EPS for the current year.

Insider Buying and Selling

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the transaction, the executive vice president now directly owns 138,472 shares of the company’s stock, valued at $20,744,490.32. This represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now directly owns 5,900 shares in the company, valued at approximately $1,018,045. This represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,400 shares of company stock valued at $12,804,458. Company insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JBL. Wellington Management Group LLP lifted its position in Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after buying an additional 5,800,535 shares in the last quarter. Norges Bank acquired a new position in Jabil during the fourth quarter valued at approximately $218,430,000. Point72 Asset Management L.P. grew its stake in shares of Jabil by 1,007.6% in the fourth 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 in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Jabil by 406.5% in the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after purchasing an additional 580,100 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Jabil by 16,190.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company’s stock worth $79,539,000 after purchasing an additional 549,347 shares during the last quarter. 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).