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

Jabil (NYSE:JBL) had its price target raised by research analysts at UBS Group from $157.00 to $208.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. UBS Group’s target price would suggest a potential upside of 5.89% from the company’s previous close.

Several other analysts have also weighed in on JBL. The Goldman Sachs Group lifted their price objective on Jabil from $165.00 to $188.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Barclays lifted their target price on shares of Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.67.

Jabil Price Performance

Shares of Jabil stock opened at $196.42 on Wednesday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.02 and a quick ratio of 0.66. The company has a market cap of $21.09 billion, a PE ratio of 46.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.14. The firm has a fifty day moving average price of $157.94 and a two-hundred day moving average price of $151.63. Jabil has a fifty-two week low of $95.85 and a fifty-two week high of $203.90.

Jabil (NYSE:JBL) last released its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 1.76% and a return on equity of 49.64%. The business had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same quarter last year, the company earned $1.89 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. Analysts expect that Jabil will post 8.05 EPS for the current year.

Insider Activity

In other 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 transaction of $1,699,000.00. Following the sale, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction on 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 approximately $227,624,059.52. This trade represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock worth $7,665,200. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Jabil

Hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp raised its stake in shares of Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after acquiring an additional 4,034 shares during the last quarter. Keybank National Association OH acquired a new stake in shares of Jabil in the fourth quarter valued at approximately $214,000. Principal Financial Group Inc. raised its position in Jabil by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock worth $20,616,000 after purchasing an additional 5,993 shares during the last quarter. 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 worth $30,000 after purchasing an additional 116 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in Jabil by 23.5% during the 4th quarter. LPL Financial LLC now owns 40,748 shares of the technology company’s stock worth $5,864,000 after buying an additional 7,747 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

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).