Jabil (NYSE:JBL) Downgraded by StockNews.com to Buy

Jabil (NYSE:JBL) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group raised their price objective on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research report on Thursday. Barclays lifted their target price on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Jabil has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Jabil Trading Down 2.3 %

JBL stock traded down $3.25 on Thursday, hitting $140.44. 2,413,553 shares of the company were exchanged, compared to its average volume of 1,433,563. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. The business’s fifty day moving average is $130.72 and its two-hundred day moving average is $118.12. Jabil has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same period in the prior year, the firm posted $2.60 EPS. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. As a group, research analysts forecast that Jabil will post 7.89 earnings per share for the current year.

Insider Buying and Selling at Jabil

In related news, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the sale, the executive vice president now directly owns 18,568 shares of the company’s stock, valued at $2,336,411.44. This represents a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Francis Mckay sold 11,755 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares in the company, valued at $5,051,816.97. This trade represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last ninety days. Insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Jabil

A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its holdings in shares of Jabil by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock valued at $195,000 after acquiring an additional 90 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in Jabil by 2.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after purchasing an additional 91 shares during the period. Gateway Investment Advisers LLC grew its holdings in Jabil by 3.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock worth $376,000 after buying an additional 105 shares in the last quarter. Richard P Slaughter Associates Inc grew its stake in shares of Jabil by 0.7% in the third quarter. Richard P Slaughter Associates Inc now owns 17,624 shares of the technology company’s stock worth $2,112,000 after purchasing an additional 120 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in Jabil by 4.9% in the 3rd quarter. Private Advisor Group LLC now owns 2,578 shares of the technology company’s stock valued at $309,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds 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).