Horizon Investment Services LLC Takes Position in Jabil, Inc. (NYSE:JBL)

Horizon Investment Services LLC purchased a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,579 shares of the technology company's stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also made changes to their positions in JBL. Allworth Financial LP grew its stake in shares of Jabil by 22.5% during the first quarter. Allworth Financial LP now owns 529 shares of the technology company's stock valued at $77,000 after purchasing an additional 97 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Jabil by 21.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock worth $77,000 after purchasing an additional 99 shares during the period. Utah Retirement Systems raised its stake in shares of Jabil by 0.5% in the 4th quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock valued at $2,645,000 after purchasing an additional 100 shares during the period. Atlas Capital Advisors Inc. increased its stake in Jabil by 1.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company's stock valued at $1,506,000 after buying an additional 105 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its stake in Jabil by 5.9% in the 1st quarter. Apollon Wealth Management LLC now owns 2,004 shares of the technology company's stock valued at $273,000 after buying an additional 112 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Performance

Shares of JBL traded down $0.70 during trading hours on Monday, reaching $223.28. 1,085,277 shares of the company's stock traded hands, compared to its average volume of 1,423,175. 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, Inc. has a twelve month low of $95.85 and a twelve month high of $230.46. The firm has a market capitalization of $23.96 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 1.56 and a beta of 1.20. The business's fifty day simple moving average is $192.62 and its two-hundred day simple moving average is $164.21.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.03 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The company's revenue was up 15.7% on a year-over-year basis. Analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on JBL shares. UBS Group upped their price target on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. The Goldman Sachs Group boosted their price target on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Bank of America raised their target price on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Barclays raised their target price on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. lifted their price target on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Jabil currently has an average rating of "Buy" and an average target price of $231.71.

Insiders Place Their Bets

In related news, SVP May Yee Yap sold 6,787 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $206.00, for a total value of $1,398,122.00. Following the completion of the transaction, the senior vice president owned 25,582 shares of the company's stock, valued at approximately $5,269,892. This represents a 20.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Francis Mckay sold 3,395 shares of Jabil stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $205.48, for a total transaction of $697,604.60. Following the completion of the transaction, the senior vice president directly owned 38,112 shares in the company, valued at $7,831,253.76. This represents a 8.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 297,431 shares of company stock valued at $58,163,159 over the last ninety days. 1.73% of the stock is owned by corporate insiders.

Jabil Profile

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).