Jabil (NYSE:JBL) Price Target Raised to $188.00

Jabil (NYSE:JBL) had its price target hoisted by analysts at The Goldman Sachs Group from $165.00 to $188.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 7.24% from the company’s current price.

A number of other brokerages have also issued reports on JBL. Barclays upped their target price on Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. JPMorgan Chase & Co. dropped their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group increased their price objective on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.17.

Jabil Trading Down 1.2%

JBL stock traded down $2.07 during midday trading on Tuesday, hitting $175.31. The stock had a trading volume of 601,834 shares, compared to its average volume of 1,422,533. The company’s 50-day moving average price is $150.94 and its 200 day moving average price is $149.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The firm has a market cap of $18.82 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. Jabil has a 12-month low of $95.85 and a 12-month high of $180.04.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $1.68 EPS. On average, equities research analysts predict that Jabil will post 8.05 earnings per share for the current fiscal year.

Insider Transactions at Jabil

In related news, CEO Michael Dastoor sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total value of $3,335,000.00. Following the transaction, the chairman now directly owns 1,710,192 shares of the company’s stock, valued at approximately $285,174,516. This trade represents a 1.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $7,665,200 in the last three months. Insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Jabil

Hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp increased its holdings in shares of Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock valued at $1,732,000 after purchasing an additional 4,034 shares during the last quarter. Keybank National Association OH bought a new stake in shares of Jabil in the fourth quarter valued at approximately $214,000. Principal Financial Group Inc. increased its stake in Jabil by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock worth $20,616,000 after acquiring an additional 5,993 shares during the period. Apollon Wealth Management LLC acquired a new position in Jabil in the 4th quarter valued at $272,000. Finally, LPL Financial LLC lifted its position in shares of Jabil by 23.5% during the 4th quarter. LPL Financial LLC now owns 40,748 shares of the technology company’s stock valued at $5,864,000 after acquiring an additional 7,747 shares during the period. 93.39% of the stock is 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).