Jabil Circuit’s (NYSE:JBL) “Buy” Rating Reaffirmed at UBS AG

UBS AG reaffirmed their buy rating on shares of Jabil Circuit, Inc. (NYSE:JBL) in a research note issued to investors on Tuesday, October 17th, www.tipranks.com reports. UBS AG currently has a $35.00 target price on the technology company’s stock.

Several other equities research analysts have also recently commented on the stock. Bank of America Corporation reaffirmed a buy rating and issued a $34.00 target price (up from $33.00) on shares of Jabil Circuit in a research report on Monday, June 19th. Macquarie began coverage on shares of Jabil Circuit in a research report on Thursday, June 22nd. They issued an outperform rating for the company. Goldman Sachs Group, Inc. (The) cut shares of Jabil Circuit from a neutral rating to a sell rating and lowered their price target for the company from $28.00 to $26.00 in a research report on Tuesday, October 10th. ValuEngine raised shares of Jabil Circuit from a buy rating to a strong-buy rating in a research report on Thursday, September 7th. Finally, BidaskClub cut shares of Jabil Circuit from a strong-buy rating to a buy rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Jabil Circuit currently has a consensus rating of Hold and a consensus price target of $30.50.

Jabil Circuit (NYSE:JBL) traded up $0.40 during trading hours on Tuesday, hitting $28.42. 1,152,411 shares of the stock traded hands, compared to its average volume of 2,197,667. Jabil Circuit has a 12-month low of $20.32 and a 12-month high of $31.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.54 and a current ratio of 0.96. The stock has a market cap of $4,949.54, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.05 and a beta of 0.53.

Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the company posted $0.28 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. equities research analysts expect that Jabil Circuit will post 2.22 earnings per share for the current fiscal year.

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Jabil Circuit announced that its board has authorized a share repurchase plan on Thursday, July 20th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the technology company to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.13%. Jabil Circuit’s dividend payout ratio is currently 46.38%.

In related news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.33, for a total transaction of $849,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,725,499 shares in the company, valued at $48,883,386.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Erich Hoch sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $28.49, for a total transaction of $71,225.00. Following the sale, the chief executive officer now owns 206,943 shares of the company’s stock, valued at $5,895,806.07. The disclosure for this sale can be found here. Insiders sold 127,680 shares of company stock valued at $3,721,246 over the last quarter. Company insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in Jabil Circuit by 1.3% during the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock valued at $236,000 after buying an additional 109 shares during the period. Meeder Asset Management Inc. grew its position in Jabil Circuit by 0.4% during the second quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock valued at $1,482,000 after buying an additional 194 shares during the period. IHT Wealth Management LLC grew its position in Jabil Circuit by 142.6% during the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after buying an additional 211 shares during the period. Massachusetts Financial Services Co. MA grew its position in Jabil Circuit by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 41,972 shares of the technology company’s stock valued at $1,214,000 after buying an additional 502 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Jabil Circuit by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after buying an additional 547 shares during the period. Institutional investors own 96.14% of the company’s stock.

Jabil Circuit Company Profile

Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.

Analyst Recommendations for Jabil Circuit (NYSE:JBL)

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