Barclays Forecasts Strong Price Appreciation for Jabil (NYSE:JBL) Stock

Jabil (NYSE:JBL) had its target price lifted by equities research analysts at Barclays from $184.00 to $206.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential upside of 16.11% from the stock’s current price.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. JPMorgan Chase & Co. cut their target price on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group decreased their price target on shares of Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group increased their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Jabil has an average rating of “Moderate Buy” and an average target price of $162.17.

Jabil Stock Performance

NYSE:JBL opened at $177.42 on Tuesday. The stock has a 50-day simple moving average of $150.94 and a two-hundred day simple moving average of $149.76. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil has a 52-week low of $95.85 and a 52-week high of $179.37. The firm has a market capitalization of $19.05 billion, a PE ratio of 17.01, a P/E/G ratio of 1.65 and a beta of 1.14.

Jabil (NYSE:JBL) last released its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. Analysts forecast that Jabil will post 8.05 EPS for the current year.

Insider Activity

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the sale, the chairman now owns 1,730,192 shares of the company’s stock, valued at $227,624,059.52. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $7,665,200. 1.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jabil

A number of institutional investors have recently modified their holdings of JBL. Wellington Management Group LLP raised its position in 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 valued at $835,876,000 after purchasing an additional 5,800,535 shares in the last quarter. Norges Bank bought a new stake in shares of Jabil in the fourth quarter valued at about $218,430,000. Point72 Asset Management L.P. lifted its stake in Jabil by 1,007.6% in the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock worth $138,954,000 after acquiring an additional 878,444 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Jabil by 119.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company’s stock worth $165,417,000 after acquiring an additional 662,938 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Jabil during the 1st quarter valued at about $81,378,000. 93.39% of the stock is owned by hedge funds and other 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).