Raymond James Financial Reiterates “Strong-Buy” Rating for Jabil (NYSE:JBL)

Raymond James Financial reissued their strong-buy rating on shares of Jabil (NYSE:JBLFree Report) in a report released on Wednesday, Marketbeat reports. The brokerage currently has a $230.00 price target on the technology company’s stock, up from their previous price target of $170.00.

Other analysts have also recently issued reports about the company. Barclays upped their target price on Jabil from $206.00 to $223.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group upped their target price on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Jabil from $180.00 to $214.00 and gave the company an “overweight” rating in a report on Wednesday. Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Finally, Argus upgraded Jabil from a “hold” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Jabil presently has an average rating of “Buy” and a consensus target price of $200.00.

Check Out Our Latest Report on JBL

Jabil Stock Performance

Jabil stock opened at $204.43 on Wednesday. The business has a 50 day moving average of $159.27 and a 200-day moving average of $152.00. Jabil has a 1 year low of $95.85 and a 1 year high of $207.10. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.66. The company has a market capitalization of $21.94 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.90 and a beta of 1.14.

Jabil (NYSE:JBLGet Free Report) last announced its earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. On average, equities research analysts predict that Jabil will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Thursday, May 15th. Jabil’s payout ratio is 6.21%.

Insiders Place Their Bets

In related news, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the transaction, the chief executive officer now directly owns 221,693 shares in the company, valued at $37,665,640.70. This trade represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total value of $3,335,000.00. Following the completion of the transaction, the chairman now owns 1,710,192 shares in the company, valued at approximately $285,174,516. This represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $7,665,200. Corporate insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Jabil

A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Jabil in the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Jabil in the 1st quarter valued at $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in Jabil in the 4th quarter valued at $29,000. Harbor Capital Advisors Inc. raised its position in Jabil by 110.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock valued at $30,000 after buying an additional 116 shares during the last quarter. Finally, Groupe la Francaise raised its position in Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after buying an additional 64 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

About Jabil

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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).

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