JPMorgan Chase & Co. Issues Positive Forecast for Jabil (NYSE:JBL) Stock Price

Jabil (NYSE:JBL) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $172.00 to $175.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.91% from the stock’s current price.

Several other research analysts have also weighed in on JBL. 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 report on Thursday, December 19th. The Goldman Sachs Group increased their price target on shares of Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, February 24th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays raised their target price on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, UBS Group boosted their price target on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and an average target price of $166.67.

Jabil Trading Down 0.2 %

Shares of NYSE:JBL traded down $0.28 during midday trading on Friday, hitting $143.55. The company had a trading volume of 491,596 shares, compared to its average volume of 1,381,070. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil has a 12 month low of $95.85 and a 12 month high of $174.80. The firm has a fifty day simple moving average of $156.14 and a 200 day simple moving average of $137.66. The stock has a market cap of $15.67 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period last year, the company earned $1.68 earnings per share. Jabil’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that Jabil will post 8.05 EPS for the current year.

Insider Activity at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the sale, the director now owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. The trade was a 14.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the sale, the executive vice president now directly owns 138,472 shares of the company’s stock, valued at $20,744,490.32. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock worth $12,804,458 in the last ninety days. 1.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jabil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after purchasing an additional 5,800,535 shares in the last quarter. FMR LLC grew its stake in Jabil by 8.1% during the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock worth $796,220,000 after buying an additional 416,841 shares in the last quarter. Geode Capital Management LLC grew its stake in Jabil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock worth $404,024,000 after buying an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Jabil by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after buying an additional 288,806 shares during the period. Finally, Norges Bank acquired a new position in shares of Jabil in the 4th quarter valued at approximately $218,430,000. 93.39% of the stock is owned by institutional investors and hedge funds.

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).