Bank of America Raises Jabil (NYSE:JBL) Price Target to $150.00

Jabil (NYSE:JBL) had its target price increased by Bank of America from $135.00 to $150.00 in a research note published on Friday, Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus lowered their price objective on shares of Jabil from $135.00 to $130.00 and set a buy rating on the stock in a research note on Tuesday, September 17th. Barclays lowered their price objective on shares of Jabil from $149.00 to $135.00 and set an overweight rating on the stock in a research report on Friday, June 21st. UBS Group dropped their target price on Jabil from $130.00 to $120.00 and set a neutral rating on the stock in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Jabil from $137.00 to $133.00 and set an overweight rating on the stock in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $145.86.

Jabil Stock Performance

Shares of JBL stock opened at $122.34 on Friday. Jabil has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a market cap of $13.88 billion, a P/E ratio of 11.13, a PEG ratio of 2.23 and a beta of 1.25. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average of $107.42 and a two-hundred day moving average of $116.27.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. Jabil’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 EPS. As a group, analysts anticipate that Jabil will post 7.85 EPS for the current year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were given a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.32 annualized dividend and a yield of 0.26%. Jabil’s dividend payout ratio is 2.91%.

Insider Buying and Selling at Jabil

In other news, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares in the company, valued at approximately $2,905,986.16. The sale was disclosed in a filing with the SEC, which is available at this link. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the sale, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Jabil by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock worth $1,919,948,000 after buying an additional 1,427,429 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Jabil during the second quarter worth about $78,660,000. AQR Capital Management LLC boosted its position in Jabil by 195.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp grew its position in Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after purchasing an additional 310,590 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Jabil in the 1st quarter valued at about $39,040,000. 93.39% of the stock is owned by 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).