William E. Peters Sells 3,580 Shares of Jabil Circuit, Inc. (JBL) Stock
Jabil Circuit, Inc. (NYSE:JBL) President William E. Peters sold 3,580 shares of Jabil Circuit stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total transaction of $102,889.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Jabil Circuit, Inc. (NYSE:JBL) opened at 28.99 on Thursday. Jabil Circuit, Inc. has a 12 month low of $20.32 and a 12 month high of $31.70. The firm’s 50-day moving average is $29.81 and its 200 day moving average is $29.74. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 44.60 and a beta of 0.59.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. Jabil Circuit’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. Equities analysts predict that Jabil Circuit, Inc. will post $2.58 earnings per share for the current year.
Jabil Circuit declared that its board has approved a stock buyback plan on Thursday, July 20th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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A number of brokerages have recently issued reports on JBL. Needham & Company LLC reiterated a “buy” rating and set a $37.00 price target on shares of Jabil Circuit in a research note on Friday, September 1st. 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 began coverage on shares of Jabil Circuit in a research note on Wednesday, August 2nd. They set an “overweight” rating and a $40.00 price target on the stock. ValuEngine upgraded shares of Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Jabil Circuit from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $28.00 to $26.00 in a research note on Tuesday, October 10th. Two investment 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 company presently has a consensus rating of “Hold” and an average price target of $30.50.
Institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC increased its stake in Jabil Circuit by 142.6% during the 2nd quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after buying an additional 211 shares during the period. Advisor Group Inc. increased its stake in Jabil Circuit by 68.2% during the 2nd quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock valued at $168,000 after buying an additional 2,337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Jabil Circuit by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after buying an additional 547 shares during the period. Stevens Capital Management LP acquired a new position in Jabil Circuit during the 2nd quarter valued at about $206,000. Finally, Bridgewater Associates LP acquired a new position in Jabil Circuit during the 2nd quarter valued at about $219,000. 92.86% of the stock is currently owned by hedge funds and other institutional investors.
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.
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