Jabil (NYSE:JBL) Price Target Raised to $179.00

Jabil (NYSE:JBL) had its target price upped by equities research analysts at The Goldman Sachs Group from $160.00 to $179.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 11.01% from the company’s current price.

A number of other research analysts have also commented on the stock. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Barclays lifted their target price on 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 upped their price target on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.83.

Jabil Stock Down 0.8 %

Jabil stock traded down $1.37 during mid-day trading on Monday, reaching $161.24. 380,074 shares of the company’s stock were exchanged, compared to its average volume of 1,245,483. The company has a fifty day moving average of $157.22 and a 200-day moving average of $133.19. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Jabil has a twelve month low of $95.85 and a twelve month high of $174.80. The company has a market cap of $17.60 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.65 and a beta of 1.23.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same period in the prior year, the company posted $2.60 earnings per share. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. Sell-side analysts expect 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 company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the transaction, the director now directly owns 119,108 shares of the company’s stock, valued at $18,021,040.40. This represents a 14.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John C. Plant sold 50,000 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the transaction, the director now owns 5,900 shares of the company’s stock, valued at $1,018,045. This represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,400 shares of company stock worth $12,804,458 over the last three months. 1.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jabil

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Jabil by 70,781.4% in the fourth 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 during the last quarter. Pacer Advisors Inc. boosted its position in shares of Jabil by 12,251.7% in the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after buying an additional 2,188,521 shares in the last quarter. Norges Bank purchased a new stake in shares of Jabil in the 4th quarter worth about $218,430,000. Point72 Asset Management L.P. grew its stake in Jabil by 1,007.6% in the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock valued at $138,954,000 after acquiring an additional 878,444 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Jabil by 406.5% during the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after acquiring an additional 580,100 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).