Jabil Circuit Inc. (JBL) Stock Rating Upgraded by Zacks Investment Research
Jabil Circuit Inc. (NYSE:JBL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $25.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 14.94% from the company’s previous close.
According to Zacks, “Jabil Circuit reported better-than-expected fourth quarter fiscal 2016 results with both the top and bottom lines beating expectations. However, a weak macroeconomic scenario resulted in a year-over- year decline on both counts. Nonetheless, the company’s DMS business performed better than guided owing to increased demand from Apple in the quarter. Going ahead, opportunities in the healthcare and packaging business should drive top-line growth. The company recently initiated a restructuring program in order to optimize its use of resources. We expect this to be a growth driver in the long run. However, at present, stagnating sales are an overhang for Jabil. This apart, customer concentration, intensifying competition and increasing investments remain concerns.”
A number of other brokerages also recently commented on JBL. Needham & Company LLC downgraded shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Bank of America Corp. restated a “buy” rating on shares of Jabil Circuit in a research report on Thursday, June 16th. B. Riley restated a “buy” rating and issued a $27.00 price objective (up previously from $22.00) on shares of Jabil Circuit in a research report on Monday, September 19th. Citigroup Inc. raised their price objective on shares of Jabil Circuit from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, September 22nd. Finally, Argus restated a “hold” rating on shares of Jabil Circuit in a research report on Thursday, June 16th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $30.79.
Shares of Jabil Circuit (NYSE:JBL) opened at 21.75 on Wednesday. The stock has a 50 day moving average price of $21.52 and a 200-day moving average price of $19.53. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 16.48 and a beta of 0.87. Jabil Circuit has a 52-week low of $16.78 and a 52-week high of $26.00.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Jabil Circuit had a net margin of 1.38% and a return on equity of 12.22%. The business earned $4.40 billion during the quarter. During the same quarter last year, the company posted $0.53 EPS. Jabil Circuit’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities research analysts predict that Jabil Circuit will post $2.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.32 annualized dividend and a yield of 1.47%. Jabil Circuit’s payout ratio is currently 24.24%.
In other Jabil Circuit news, President William E. Peters sold 20,000 shares of Jabil Circuit stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total value of $465,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Loparco sold 2,000 shares of Jabil Circuit stock in a transaction on Monday, September 19th. The shares were sold at an average price of $22.90, for a total transaction of $45,800.00. Following the completion of the transaction, the chief executive officer now owns 239,092 shares in the company, valued at approximately $5,475,206.80. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. World Asset Management Inc raised its position in shares of Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock worth $221,000 after buying an additional 120 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Jabil Circuit by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 33,007 shares of the company’s stock worth $610,000 after buying an additional 132 shares during the period. Ifrah Financial Services Inc. raised its position in shares of Jabil Circuit by 2.1% in the second quarter. Ifrah Financial Services Inc. now owns 17,279 shares of the company’s stock worth $319,000 after buying an additional 360 shares during the period. United Services Automobile Association raised its position in shares of Jabil Circuit by 2.2% in the second quarter. United Services Automobile Association now owns 29,590 shares of the company’s stock worth $547,000 after buying an additional 630 shares during the period. Finally, Eqis Capital Management Inc. raised its position in shares of Jabil Circuit by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 15,195 shares of the company’s stock worth $281,000 after buying an additional 673 shares during the period. Institutional investors own 89.92% of the company’s stock.
Jabil Circuit Company Profile
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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