Jabil Circuit Inc. (NYSE:JBL) Receives $32.36 Consensus Target Price from Analysts
Shares of Jabil Circuit Inc. (NYSE:JBL) have received an average recommendation of “Buy” from the sixteen ratings firms that are currently covering the firm. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $32.36.
Several research firms recently issued reports on JBL. Raymond James Financial Inc. upgraded Jabil Circuit from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $21.00 to $26.00 in a report on Friday, July 15th. Goldman Sachs Group Inc. upgraded Jabil Circuit from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $16.00 to $21.00 in a report on Tuesday, September 20th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Jabil Circuit in a report on Tuesday, September 20th. RBC Capital Markets reiterated a “sector perform” rating and issued a $23.00 price objective (up from $20.00) on shares of Jabil Circuit in a report on Friday, September 23rd. Finally, B. Riley reiterated a “buy” rating and issued a $27.00 price objective on shares of Jabil Circuit in a report on Tuesday.
Jabil Circuit (NYSE:JBL) opened at 22.02 on Tuesday. The stock has a market capitalization of $4.16 billion, a P/E ratio of 16.68 and a beta of 1.03. The firm’s 50-day moving average price is $21.66 and its 200 day moving average price is $19.56. Jabil Circuit has a 12-month low of $16.78 and a 12-month high of $26.00.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Jabil Circuit had a return on equity of 12.22% and a net margin of 1.38%. The company had revenue of $4.40 billion for the quarter. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that Jabil Circuit will post $2.04 EPS for the current year.
In other Jabil Circuit news, President William E. Peters sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The stock was 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 this hyperlink. Also, CEO Michael J. Loparco sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $22.90, for a total value of $45,800.00. Following the completion of the sale, the chief executive officer now directly 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 owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in JBL. FMR LLC raised its stake in shares of Jabil Circuit by 57.2% in the second quarter. FMR LLC now owns 16,352,044 shares of the company’s stock worth $302,022,000 after buying an additional 5,952,664 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Jabil Circuit during the second quarter worth about $48,592,000. Norges Bank purchased a new stake in shares of Jabil Circuit during the fourth quarter worth about $46,756,000. Emerald Acquisition Ltd. purchased a new stake in shares of Jabil Circuit during the second quarter worth about $23,781,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Jabil Circuit by 251.6% in the first quarter. JPMorgan Chase & Co. now owns 1,632,426 shares of the company’s stock worth $31,457,000 after buying an additional 1,168,082 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.
About Jabil Circuit
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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