Jabil (NYSE:JBL) Upgraded to Strong-Buy at StockNews.com

Jabil (NYSE:JBL) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

A number of other research analysts have also weighed in on the company. Barclays increased their price target on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus increased their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

Jabil Price Performance

NYSE:JBL traded up $0.63 during trading hours on Wednesday, reaching $133.35. 1,882,767 shares of the company traded hands, compared to its average volume of 1,441,754. The firm’s 50-day moving average is $124.91 and its 200-day moving average is $116.03. The stock has a market cap of $15.05 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.58 and a beta of 1.24. 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 has a 1-year low of $95.85 and a 1-year high of $156.94.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. Jabil’s quarterly revenue was down 17.7% on a year-over-year basis. Equities research analysts expect that Jabil will post 7.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at $12,908,981.10. This trade represents a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. This trade represents 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 have sold 43,689 shares of company stock valued at $5,377,431. 2.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in shares of Jabil by 12,251.7% during the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after acquiring an additional 2,188,521 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Jabil during the second quarter valued at about $78,660,000. AQR Capital Management LLC grew its stake in shares of Jabil by 195.8% during the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after acquiring an additional 702,199 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Jabil by 406.5% during the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after acquiring an additional 580,100 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Jabil by 11.3% during the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after acquiring an additional 520,672 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Company Profile

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).