Barclays Forecasts Strong Price Appreciation for Jabil (NYSE:JBL) Stock

Key Points

• Barclays raised its target price for Jabil's stock from $223 to $267, suggesting a potential upside of 26.89% from its current price, while maintaining an "overweight" rating.
• Analysts from UBS, Goldman Sachs, and JPMorgan Chase also revised their target prices upwards, contributing to a consensus rating of "Moderate Buy" with an average target price of $242.29.
• Insider trading activity showed executives selling shares recently, with Frederic E. Mccoy and Chairman Mark T. Mondelo reducing their holdings by 3.50% and 1.41%, respectively.

Jabil (NYSE:JBL - Get Free Report) had its target price raised by analysts at Barclays from $223.00 to $267.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Barclays's target price suggests a potential upside of 26.89% from the company's current price.

A number of other research analysts also recently issued reports on the stock. UBS Group boosted their target price on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. The Goldman Sachs Group lifted their price objective on shares of Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Raymond James Financial set a $260.00 price target on Jabil in a research report on Thursday. Stifel Nicolaus began coverage on shares of Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Jabil has a consensus rating of "Moderate Buy" and an average target price of $242.29.

Jabil Trading Down 6.6%

NYSE JBL opened at $210.42 on Friday. The stock has a market capitalization of $22.58 billion, a P/E ratio of 40.86, a P/E/G ratio of 1.33 and a beta of 1.25. The business has a 50 day simple moving average of $216.73 and a 200 day simple moving average of $183.55. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. Jabil has a one year low of $108.66 and a one year high of $237.14.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the transaction, the executive vice president directly owned 124,203 shares of the company's stock, valued at $27,765,580.65. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $200.02, for a total value of $4,000,400.00. Following the completion of the transaction, the chairman owned 1,400,190 shares of the company's stock, valued at approximately $280,066,003.80. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,416 shares of company stock valued at $18,625,639. 1.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. grew its position in Jabil by 84.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock worth $1,846,000 after acquiring an additional 6,225 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Jabil by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock worth $33,062,000 after buying an additional 18,126 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of Jabil by 7.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock valued at $453,000 after acquiring an additional 217 shares during the period. OneDigital Investment Advisors LLC bought a new position in Jabil during the 1st quarter valued at approximately $214,000. Finally, QRG Capital Management Inc. lifted its holdings in Jabil by 2.3% in the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock worth $813,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 93.39% of the company's stock.

About Jabil

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).

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