Jabil (JBL) Price Target Cut to $34.00 by Analysts at JPMorgan Chase & Co.

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Jabil (NYSE:JBL) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $37.00 to $34.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the technology company’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 39.92% from the company’s current price.

A number of other equities analysts have also recently commented on the company. TheStreet cut Jabil from a “b-” rating to a “c+” rating in a research note on Tuesday, October 9th. ValuEngine cut Jabil from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. Finally, Goldman Sachs Group upgraded Jabil from a “sell” rating to a “neutral” rating and set a $25.00 price objective on the stock in a research report on Sunday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Jabil has a consensus rating of “Hold” and a consensus price target of $31.67.

Shares of Jabil stock opened at $24.30 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.57 and a current ratio of 1.04. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 11.20 and a beta of 0.54. Jabil has a one year low of $23.04 and a one year high of $31.77.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Tuesday, September 25th. The technology company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Jabil had a return on equity of 16.56% and a net margin of 0.39%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS.

In other news, President William E. Peters sold 13,915 shares of Jabil stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $29.48, for a total value of $410,214.20. Following the sale, the president now directly owns 511,562 shares in the company, valued at approximately $15,080,847.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark T. Mondello sold 30,000 shares of Jabil stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $30.01, for a total value of $900,300.00. Following the completion of the sale, the chief executive officer now owns 1,801,889 shares in the company, valued at $54,074,688.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,245 shares of company stock worth $2,589,070. Corporate insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new position in Jabil during the third quarter valued at $1,892,000. Paloma Partners Management Co raised its stake in Jabil by 203.1% during the third quarter. Paloma Partners Management Co now owns 179,441 shares of the technology company’s stock valued at $4,859,000 after buying an additional 120,245 shares during the last quarter. Jane Street Group LLC raised its stake in Jabil by 402.2% during the third quarter. Jane Street Group LLC now owns 12,087 shares of the technology company’s stock valued at $327,000 after buying an additional 16,087 shares during the last quarter. Afam Capital Inc. raised its stake in Jabil by 4.8% during the third quarter. Afam Capital Inc. now owns 119,800 shares of the technology company’s stock valued at $3,244,000 after buying an additional 5,522 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Jabil during the third quarter valued at $1,529,000. Institutional investors own 93.54% of the company’s stock.

Jabil Company Profile

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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Analyst Recommendations for Jabil (NYSE:JBL)

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