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

Jabil (NYSE:JBL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other research firms have also weighed in on JBL. The Goldman Sachs Group raised their price objective on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Argus lowered Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. cut their price target on Jabil from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, November 29th. Stifel Nicolaus boosted their price objective on Jabil from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Finally, Barclays dropped their price objective on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Jabil Price Performance

JBL stock opened at $135.91 on Tuesday. The company has a fifty day moving average price of $135.95 and a 200-day moving average price of $128.48. Jabil has a 52-week low of $75.48 and a 52-week high of $156.94. The company has a market capitalization of $17.33 billion, a P/E ratio of 11.67, a PEG ratio of 1.40 and a beta of 1.41. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.73 and a current ratio of 1.12.

Insiders Place Their Bets

In related news, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the sale, the chairman now owns 1,809,194 shares in the company, valued at $228,121,271.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total value of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares in the company, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven D. Borges sold 14,175 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $130.00, for a total transaction of $1,842,750.00. Following the sale, the chief executive officer now directly owns 103,086 shares of the company’s stock, valued at approximately $13,401,180. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,658 shares of company stock valued at $13,316,271. Company insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Jabil

Several large investors have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC grew its position in shares of Jabil by 4.7% during the first quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock worth $246,000 after purchasing an additional 180 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Jabil during the first quarter valued at approximately $399,000. Great West Life Assurance Co. Can lifted its holdings in shares of Jabil by 10.5% in the first quarter. Great West Life Assurance Co. Can now owns 83,585 shares of the technology company’s stock worth $5,312,000 after buying an additional 7,933 shares in the last quarter. Sei Investments Co. boosted its position in shares of Jabil by 58.6% during the first quarter. Sei Investments Co. now owns 382,918 shares of the technology company’s stock worth $23,633,000 after acquiring an additional 141,511 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Jabil by 656.6% during the first quarter. Canada Pension Plan Investment Board now owns 21,700 shares of the technology company’s stock valued at $1,340,000 after acquiring an additional 18,832 shares in the last quarter. Hedge funds and other 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).