The Goldman Sachs Group Forecasts Strong Price Appreciation for Jabil (NYSE:JBL) Stock

Jabil (NYSE:JBL) had its target price raised by The Goldman Sachs Group from $165.00 to $188.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

JBL has been the topic of several other research reports. Barclays lifted their price objective on shares of Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group lifted their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Wall Street Zen upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $169.17.

Jabil Stock Performance

JBL opened at $179.09 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.65 and a beta of 1.14. The company’s 50 day moving average is $154.43 and its 200 day moving average is $150.46. Jabil has a 12-month low of $95.85 and a 12-month high of $180.16.

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

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil’s payout ratio is 7.66%.

Insiders Place Their Bets

In other news, Chairman Mark T. Mondello sold 20,000 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the sale, the chairman now directly owns 1,730,192 shares of the company’s stock, valued at approximately $227,624,059.52. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Dastoor sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the sale, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $7,665,200 over the last three months. 1.73% of the stock is owned by company insiders.

Institutional Trading of Jabil

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in Jabil in the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV bought a new position in Jabil in the first quarter worth about $27,000. Murphy & Mullick Capital Management Corp bought a new position in Jabil in the fourth quarter worth about $29,000. Harbor Capital Advisors Inc. raised its holdings in Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after purchasing an additional 116 shares in the last quarter. Finally, Groupe la Francaise raised its holdings in Jabil by 35.2% in the first quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after purchasing an additional 64 shares in the last quarter. 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).