Jabil (NYSE:JBL) Price Target Raised to $179.00 at Barclays

Jabil (NYSE:JBL) had its price target upped by analysts at Barclays from $157.00 to $179.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 27.46% from the company’s current price.

Several other analysts have also issued reports on the stock. UBS Group increased their price target on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their price objective on 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 reaffirmed a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com downgraded Jabil from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Jabil presently has a consensus rating of “Moderate Buy” and an average price target of $153.17.

Jabil Price Performance

NYSE:JBL opened at $140.44 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 1.57 and a beta of 1.25. Jabil has a 12-month low of $95.85 and a 12-month high of $156.94. The stock’s 50 day moving average price is $130.72 and its two-hundred day moving average price is $118.12.

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

Insiders Place Their Bets

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Crowley sold 1,380 shares of the business’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 completion of the sale, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,689 shares of company stock valued at $5,377,431. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Jabil

Institutional investors have recently added to or reduced their stakes in the business. Foster & Motley Inc. raised its holdings in Jabil by 8.7% during the 3rd quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock valued at $6,252,000 after acquiring an additional 4,181 shares during the period. Nicola Wealth Management LTD. raised its position in shares of Jabil by 54.9% in the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock worth $4,733,000 after buying an additional 14,000 shares in the last quarter. Empowered Funds LLC boosted its stake in Jabil by 11.8% during the third quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock valued at $17,457,000 after buying an additional 15,413 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Jabil by 58.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,815 shares of the technology company’s stock valued at $23,105,000 after acquiring an additional 71,292 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Jabil by 51.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,107 shares of the technology company’s stock worth $2,514,000 after purchasing an additional 7,878 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other 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).