Jabil (NYSE:JBL) Price Target Cut to $120.00

Jabil (NYSE:JBL) had its price target lowered by UBS Group from $130.00 to $120.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other brokerages also recently issued reports on JBL. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $155.00 to $145.00 and set an overweight rating on the stock in a report on Monday, June 17th. The Goldman Sachs Group raised their price objective on shares of Jabil from $141.00 to $161.00 and gave the stock a buy rating in a report on Monday, March 4th. Barclays dropped their price objective on shares of Jabil from $151.00 to $149.00 and set an overweight rating on the stock in a report on Monday, March 18th. Argus downgraded shares of Jabil from a buy rating to a hold rating in a report on Tuesday, March 19th. Finally, StockNews.com raised shares of Jabil from a hold rating to a buy rating in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $142.63.

Jabil Stock Performance

Shares of NYSE JBL opened at $113.19 on Friday. The firm’s 50-day moving average price is $119.16 and its 200-day moving average price is $127.96. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The company has a market cap of $13.65 billion, a PE ratio of 9.72, a PEG ratio of 1.58 and a beta of 1.35. Jabil has a 52-week low of $100.18 and a 52-week high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.53 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.85 EPS. As a group, analysts anticipate that Jabil will post 7.74 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is 2.75%.

Insider Buying and Selling

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Jabil news, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the sale, the executive vice president now owns 65,434 shares in the company, valued at approximately $8,874,159.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,877 shares of company stock worth $3,519,883. 2.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jabil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JBL. Paralel Advisors LLC boosted its position in shares of Jabil by 1.2% during the 3rd quarter. Paralel Advisors LLC now owns 21,693 shares of the technology company’s stock valued at $2,753,000 after acquiring an additional 247 shares during the last quarter. Prudential PLC grew its stake in shares of Jabil by 22.4% in the 3rd quarter. Prudential PLC now owns 3,208 shares of the technology company’s stock worth $407,000 after buying an additional 587 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Jabil in the 3rd quarter worth $466,000. Envestnet Asset Management Inc. grew its stake in shares of Jabil by 11.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 80,467 shares of the technology company’s stock worth $10,211,000 after buying an additional 8,135 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Jabil by 58.1% in the 3rd quarter. Hsbc Holdings PLC now owns 29,684 shares of the technology company’s stock worth $3,763,000 after buying an additional 10,905 shares in the last quarter. 93.39% of the stock is owned by 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).