Jabil Circuit Inc. (NYSE:JBL)‘s stock had its “neutral” rating reiterated by analysts at Goldman Sachs Group Inc. in a research report issued to clients and investors on Friday. They presently have a $23.00 price target on the stock, up from their previous price target of $21.00. Goldman Sachs Group Inc.’s price target points to a potential upside of 6.43% from the company’s previous close.
JBL has been the subject of several other research reports. Raymond James Financial Inc. raised shares of Jabil Circuit from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $21.00 to $26.00 in a research report on Friday, July 15th. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Jabil Circuit in a research report on Tuesday, September 20th. RBC Capital Markets reissued a “sector perform” rating and set a $23.00 price target (up previously from $20.00) on shares of Jabil Circuit in a research report on Friday, September 23rd. UBS AG reduced their price target on shares of Jabil Circuit from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, June 16th. Finally, Standpoint Research downgraded shares of Jabil Circuit from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a research report on Thursday, September 22nd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Jabil Circuit presently has a consensus rating of “Buy” and a consensus target price of $30.93.
Shares of Jabil Circuit (NYSE:JBL) opened at 21.61 on Friday. The company has a market cap of $4.09 billion, a PE ratio of 16.37 and a beta of 1.03. The firm’s 50-day moving average is $21.57 and its 200-day moving average is $19.51. Jabil Circuit has a one year low of $16.78 and a one year high of $26.00.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. Jabil Circuit had a net margin of 1.38% and a return on equity of 12.22%. The business earned $4.40 billion during the quarter. During the same period in the prior year, the business posted $0.53 EPS. Jabil Circuit’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that Jabil Circuit will post $2.04 EPS for the current year.
In related news, CEO Michael J. Loparco sold 5,000 shares of Jabil Circuit stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total transaction of $101,150.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President William E. Peters sold 20,000 shares of Jabil Circuit stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total transaction of $465,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kempen Capital Management N.V. increased its stake in shares of Jabil Circuit by 141.6% in the first quarter. Kempen Capital Management N.V. now owns 18,395 shares of the company’s stock worth $354,000 after buying an additional 10,782 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Jabil Circuit during the first quarter worth about $5,507,000. M&T Bank Corp increased its stake in shares of Jabil Circuit by 34.4% in the first quarter. M&T Bank Corp now owns 12,717 shares of the company’s stock worth $244,000 after buying an additional 3,256 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Jabil Circuit by 1,758.6% in the first quarter. Bessemer Group Inc. now owns 53,900 shares of the company’s stock worth $1,039,000 after buying an additional 51,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Jabil Circuit by 251.6% in the first quarter. JPMorgan Chase & Co. now owns 1,632,426 shares of the company’s stock worth $31,457,000 after buying an additional 1,168,082 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.
About Jabil Circuit
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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