BidaskClub upgraded shares of Jabil Circuit, Inc. (NYSE:JBL) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Jabil Circuit from a hold rating to a buy rating and set a $32.00 price objective for the company in a research note on Tuesday, March 21st. UBS AG boosted their price objective on shares of Jabil Circuit from $28.00 to $30.00 and gave the stock a buy rating in a research note on Thursday, March 16th. Needham & Company LLC upgraded shares of Jabil Circuit from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Thursday, March 16th. ValuEngine upgraded shares of Jabil Circuit from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Bank of America Corporation reiterated a buy rating and set a $34.00 price objective (up from $33.00) on shares of Jabil Circuit in a research note on Monday, June 19th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $27.83.
Jabil Circuit (JBL) traded up 0.03% during midday trading on Wednesday, reaching $30.50. 1,140,821 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $29.76 and its 200 day moving average is $27.06. The firm has a market capitalization of $5.47 billion, a P/E ratio of 46.92 and a beta of 0.56. Jabil Circuit has a 52 week low of $19.90 and a 52 week high of $31.70.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the previous year, the firm earned $0.17 earnings per share. Jabil Circuit’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts expect that Jabil Circuit will post $2.10 EPS for the current fiscal year.
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In other Jabil Circuit news, President William E. Peters sold 11,000 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $29.50, for a total transaction of $324,500.00. Following the sale, the president now directly owns 678,422 shares of the company’s stock, valued at $20,013,449. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO William D. Muir, Jr. sold 4,500 shares of the stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $28.62, for a total transaction of $128,790.00. Following the sale, the chief operating officer now directly owns 549,085 shares in the company, valued at $15,714,812.70. The disclosure for this sale can be found here. Insiders sold 322,181 shares of company stock worth $9,655,471 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Jabil Circuit by 10.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,787 shares of the technology company’s stock worth $657,000 after buying an additional 2,589 shares during the period. Janus Capital Management LLC boosted its stake in shares of Jabil Circuit by 29.6% in the fourth quarter. Janus Capital Management LLC now owns 12,700 shares of the technology company’s stock worth $301,000 after buying an additional 2,900 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Jabil Circuit by 4.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,480 shares of the technology company’s stock worth $745,000 after buying an additional 1,390 shares during the period. Norges Bank acquired a new stake in shares of Jabil Circuit during the fourth quarter worth $54,769,000. Finally, Pegasus Partners Ltd. boosted its stake in shares of Jabil Circuit by 6.3% in the fourth quarter. Pegasus Partners Ltd. now owns 32,487 shares of the technology company’s stock worth $769,000 after buying an additional 1,922 shares during the period. 94.72% of the stock is currently owned by institutional investors.
About Jabil Circuit
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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