Jabil Circuit, Inc. (JBL) Downgraded by BidaskClub
Jabil Circuit, Inc. (NYSE:JBL) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
A number of other equities analysts have also commented on JBL. UBS AG reiterated a “buy” rating and set a $35.00 price target (up previously from $30.00) on shares of Jabil Circuit in a report on Friday, June 16th. J P Morgan Chase & Co assumed coverage on shares of Jabil Circuit in a report on Wednesday. They set an “overweight” rating and a $40.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Jabil Circuit from $27.00 to $31.00 and gave the stock a “sector perform” rating in a report on Thursday, June 15th. Stifel Nicolaus lifted their price target on shares of Jabil Circuit from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, June 15th. Finally, Macquarie assumed coverage on shares of Jabil Circuit in a report on Thursday, June 22nd. They set an “outperform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Jabil Circuit currently has an average rating of “Buy” and a consensus price target of $28.77.
Shares of Jabil Circuit (JBL) traded up 0.10% during mid-day trading on Thursday, hitting $30.72. 649,649 shares of the company’s stock traded hands. The company has a market cap of $5.51 billion, a PE ratio of 47.26 and a beta of 0.56. The firm has a 50-day moving average of $29.97 and a 200 day moving average of $28.18. Jabil Circuit has a 52 week low of $19.97 and a 52 week high of $31.70.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. Jabil Circuit’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. Equities research analysts predict that Jabil Circuit will post $2.09 EPS for the current year.
Jabil Circuit announced that its board has authorized a stock repurchase plan on Thursday, July 20th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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In other Jabil Circuit news, CEO Michael J. Loparco sold 5,000 shares of Jabil Circuit stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $29.90, for a total value of $149,500.00. Following the completion of the sale, the chief executive officer now directly owns 244,486 shares of the company’s stock, valued at $7,310,131.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO William D. Muir, Jr. sold 19,866 shares of Jabil Circuit stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $29.34, for a total transaction of $582,868.44. Following the completion of the sale, the chief operating officer now directly owns 597,085 shares of the company’s stock, valued at $17,518,473.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,495 shares of company stock valued at $9,205,242. Insiders own 2.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. LSV Asset Management increased its stake in Jabil Circuit by 29.8% in the first quarter. LSV Asset Management now owns 2,747,837 shares of the technology company’s stock valued at $79,467,000 after buying an additional 631,653 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Jabil Circuit by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 66,712 shares of the technology company’s stock valued at $1,929,000 after buying an additional 900 shares during the period. Pegasus Partners Ltd. increased its stake in Jabil Circuit by 0.7% in the first quarter. Pegasus Partners Ltd. now owns 32,719 shares of the technology company’s stock valued at $946,000 after buying an additional 232 shares during the period. Greenwich Wealth Management LLC increased its stake in Jabil Circuit by 1.0% in the first quarter. Greenwich Wealth Management LLC now owns 24,330 shares of the technology company’s stock valued at $704,000 after buying an additional 230 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Jabil Circuit by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 230,603 shares of the technology company’s stock valued at $6,671,000 after buying an additional 12,235 shares during the period. 94.92% of the stock is owned by hedge funds and other institutional investors.
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.
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