ValuEngine Lowers Jabil (JBL) to Buy

ValuEngine lowered shares of Jabil (NYSE:JBL) from a strong-buy rating to a buy rating in a report released on Monday.

A number of other brokerages have also recently commented on JBL. J P Morgan Chase & Co reaffirmed a buy rating and issued a $40.00 target price on shares of Jabil in a report on Thursday, September 28th. BidaskClub cut shares of Jabil from a buy rating to a hold rating in a report on Saturday, August 12th. Zacks Investment Research raised shares of Jabil from a hold rating to a strong-buy rating and set a $34.00 target price for the company in a report on Monday, October 2nd. Bank of America cut shares of Jabil from a buy rating to a neutral rating in a report on Monday, September 25th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $30.00 target price on shares of Jabil in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $30.50.

Shares of Jabil (NYSE:JBL) opened at $27.56 on Monday. Jabil has a 1-year low of $20.44 and a 1-year high of $31.70. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.69. The company has a market cap of $4,979.57, a PE ratio of 15.16, a PEG ratio of 1.06 and a beta of 0.55.

Jabil (NYSE:JBL) last announced its earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Jabil had a net margin of 0.68% and a return on equity of 14.47%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. sell-side analysts anticipate that Jabil will post 2.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.32 annualized dividend and a yield of 1.16%. Jabil’s dividend payout ratio is currently 46.38%.

In related news, CEO Erich Hoch sold 2,500 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $28.49, for a total transaction of $71,225.00. Following the completion of the transaction, the chief executive officer now directly owns 206,943 shares of the company’s stock, valued at $5,895,806.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $28.48, for a total transaction of $854,400.00. Following the transaction, the chief executive officer now directly owns 1,836,889 shares of the company’s stock, valued at $52,314,598.72. The disclosure for this sale can be found here. Insiders have sold 147,680 shares of company stock valued at $4,204,246 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC increased its holdings in Jabil by 142.6% in the second 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 in the last quarter. Advisor Group Inc. increased its holdings in Jabil by 68.2% in the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Jabil by 9.9% in the second 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 in the last quarter. Stevens Capital Management LP purchased a new position in Jabil in the second quarter valued at about $206,000. Finally, Bridgewater Associates LP purchased a new position in Jabil in the second quarter valued at about $219,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

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Jabil 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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