Jabil Circuit’s (JBL) Buy Rating Reaffirmed at UBS AG
Jabil Circuit, Inc. (NYSE:JBL)‘s stock had its “buy” rating reaffirmed by stock analysts at UBS AG in a research note issued on Tuesday. They presently have a $35.00 price target on the technology company’s stock. UBS AG’s price objective suggests a potential upside of 22.33% from the stock’s current price.
JBL has been the topic of a number of other research reports. BidaskClub lowered shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. J P Morgan Chase & Co assumed coverage on shares of Jabil Circuit in a research note on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 price target on the stock. Goldman Sachs Group, Inc. (The) lowered shares of Jabil Circuit from a “neutral” rating to a “sell” rating and decreased their price target for the company from $28.00 to $26.00 in a research note on Tuesday, October 10th. Citigroup Inc. reiterated a “sell” rating and issued a $28.00 price target on shares of Jabil Circuit in a research note on Thursday, September 28th. Finally, Macquarie assumed coverage on shares of Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating on the stock. Two equities research 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. The company currently has a consensus rating of “Hold” and a consensus target price of $30.50.
Jabil Circuit (NYSE JBL) traded up 0.10% during midday trading on Tuesday, hitting $28.64. 928,348 shares of the company traded hands. The stock’s 50-day moving average price is $29.94 and its 200 day moving average price is $29.75. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 44.06 and a beta of 0.59. Jabil Circuit has a 12-month low of $20.32 and a 12-month high of $31.70.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the business earned $0.28 EPS. Jabil Circuit’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts forecast that Jabil Circuit will post $2.58 EPS for the current year.
Jabil Circuit announced that its Board of Directors has authorized a share buyback program on Thursday, July 20th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: This article was first published by Daily Political and is owned by of Daily Political. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/10/17/jabil-circuits-jbl-buy-rating-reaffirmed-at-ubs-ag.html.
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 shares were sold at an average price of $31.32, for a total transaction of $939,600.00. Following the completion of the sale, the chief executive officer now owns 1,877,619 shares of the company’s stock, valued at approximately $58,807,027.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 90,521 shares of company stock valued at $2,740,446. 2.90% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. IHT Wealth Management LLC lifted its stake in Jabil Circuit by 142.6% in the 2nd 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. lifted its stake in Jabil Circuit by 68.2% in the 2nd 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 lifted its stake in Jabil Circuit by 9.9% in the 2nd 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 Jabil Circuit in the 2nd quarter valued at approximately $206,000. Finally, Bridgewater Associates LP bought a new position in Jabil Circuit in the 2nd quarter valued at approximately $219,000. 92.86% of the stock is owned by institutional investors and hedge funds.
About Jabil Circuit
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.
Receive News & Ratings for Jabil Circuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil Circuit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.