Jabil Circuit Inc. (JBL) Stock Rating Reaffirmed by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. reaffirmed their neutral rating on shares of Jabil Circuit Inc. (NYSE:JBL) in a research note published on Friday. Goldman Sachs Group Inc. currently has a $23.00 target price on the stock, up from their previous target price of $21.00.
Other equities research analysts have also issued reports about the company. Needham & Company LLC lowered Jabil Circuit from a buy rating to a hold rating in a research report on Thursday, September 22nd. Bank of America Corp. reaffirmed a buy rating on shares of Jabil Circuit in a research report on Thursday, June 16th. B. Riley reaffirmed a buy rating and set a $27.00 target price (up from $22.00) on shares of Jabil Circuit in a research report on Monday, September 19th. Citigroup Inc. boosted their target price on Jabil Circuit from $17.00 to $18.00 and gave the stock a neutral rating in a research report on Thursday, September 22nd. Finally, Argus reaffirmed 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 issued a buy rating and one has given a strong buy rating to the stock. Jabil Circuit currently has a consensus rating of Buy and an average target price of $30.93.
Shares of Jabil Circuit (NYSE:JBL) opened at 21.92 on Friday. The stock has a market cap of $4.15 billion, a PE ratio of 16.61 and a beta of 1.03. Jabil Circuit has a 52-week low of $16.78 and a 52-week high of $26.00. The company’s 50-day moving average price is $21.62 and its 200-day moving average price is $19.55.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business earned $4.40 billion during the quarter. Jabil Circuit had a return on equity of 12.22% and a net margin of 1.38%. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. Analysts expect that Jabil Circuit will post $2.04 earnings per share for the current year.
In other news, CEO Michael J. Loparco sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $21.90, for a total transaction of $43,800.00. Following the completion of the sale, the chief executive officer now owns 241,092 shares in the company, valued at approximately $5,279,914.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President William E. Peters sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total value of $465,000.00. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in JBL. Quantitative Systematic Strategies LLC bought a new stake in Jabil Circuit during the second quarter valued at about $181,000. Calvert Investment Management Inc. bought a new stake in Jabil Circuit during the second quarter valued at about $201,000. LS Investment Advisors LLC increased its stake in Jabil Circuit by 71.2% in the second quarter. LS Investment Advisors LLC now owns 11,551 shares of the company’s stock valued at $213,000 after buying an additional 4,802 shares during the period. World Asset Management Inc increased its stake in Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock valued at $221,000 after buying an additional 120 shares during the period. Finally, M&T Bank Corp increased its stake in Jabil Circuit by 34.4% in the first quarter. M&T Bank Corp now owns 12,717 shares of the company’s stock valued at $244,000 after buying an additional 3,256 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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