Jabil Circuit, Inc. (JBL) Lowered to Sell at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) downgraded shares of Jabil Circuit, Inc. (NYSE:JBL) from a neutral rating to a sell rating in a report issued on Tuesday, Marketbeat.com reports. The firm currently has $26.00 price target on the technology company’s stock, down from their previous price target of $28.00.
A number of other brokerages have also issued reports on JBL. Needham & Company LLC reaffirmed a buy rating and set a $37.00 target price on shares of Jabil Circuit in a research report on Friday, September 1st. BidaskClub lowered Jabil Circuit from a strong-buy rating to a buy rating in a research report on Thursday, August 3rd. Royal Bank Of Canada lifted their target price on Jabil Circuit from $27.00 to $31.00 and gave the stock a sector perform rating in a research report on Thursday, June 15th. Stifel Nicolaus lifted their target price on Jabil Circuit from $29.00 to $30.00 and gave the stock a hold rating in a research report on Thursday, June 15th. Finally, J P Morgan Chase & Co assumed coverage on Jabil Circuit in a research report on Wednesday, August 2nd. They set an overweight rating and a $40.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $30.50.
Shares of Jabil Circuit (NYSE JBL) opened at 28.24 on Tuesday. The stock has a market cap of $5.06 billion, a P/E ratio of 43.45 and a beta of 0.59. Jabil Circuit has a one year low of $20.32 and a one year high of $31.70. The firm’s 50-day moving average price is $29.95 and its 200 day moving average price is $29.74.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts expect that Jabil Circuit will post $2.58 EPS for the current fiscal year.
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Jabil Circuit announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 20th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $31.32, for a total transaction of $939,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,877,619 shares of the company’s stock, valued at $58,807,027.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 90,521 shares of company stock valued at $2,740,446. 2.90% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. IHT Wealth Management LLC grew its holdings in shares of Jabil Circuit by 142.6% during the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after purchasing an additional 211 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Jabil Circuit by 68.2% during the second quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock valued at $168,000 after purchasing an additional 2,337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Jabil Circuit by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after purchasing an additional 547 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of Jabil Circuit during the second quarter valued at approximately $206,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Jabil Circuit during the first quarter valued at approximately $218,000. 93.05% of the stock is owned by 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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