Jabil (NYSE:JBL) Given New $223.00 Price Target at Barclays

Jabil (NYSE:JBL - Get Free Report) had its price objective raised by stock analysts at Barclays from $206.00 to $223.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. Barclays's target price would suggest a potential upside of 13.53% from the stock's current price.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen raised Jabil from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. UBS Group raised their price objective on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on Jabil from $165.00 to $188.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Jabil currently has an average rating of "Moderate Buy" and an average price target of $180.50.

Jabil Stock Performance

Shares of Jabil stock opened at $196.42 on Tuesday. Jabil has a 12 month low of $95.85 and a 12 month high of $203.90. The stock's fifty day moving average price is $157.94 and its 200-day moving average price is $151.63. The firm has a market cap of $21.09 billion, a P/E ratio of 46.99, a P/E/G ratio of 1.76 and a beta of 1.14. The company has a current ratio of 1.02, a quick ratio of 0.66 and a debt-to-equity ratio of 2.12.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 1.76% and a return on equity of 49.64%. Jabil's revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. On average, equities research analysts expect that Jabil will post 8.05 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $166.75, for a total value of $3,335,000.00. Following the sale, the chairman now directly owns 1,710,192 shares of the company's stock, valued at $285,174,516. This represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the sale, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $7,665,200. Company insiders own 1.73% of the company's stock.

Institutional Investors Weigh In On Jabil

Several hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of Jabil by 1,327.3% in the 4th quarter. Van ECK Associates Corp now owns 22,680 shares of the technology company's stock valued at $3,264,000 after buying an additional 21,091 shares during the period. Principal Securities Inc. raised its position in Jabil by 240.8% during the fourth quarter. Principal Securities Inc. now owns 9,599 shares of the technology company's stock valued at $1,381,000 after acquiring an additional 6,782 shares in the last quarter. Allworth Financial LP lifted its holdings in Jabil by 38.9% in the fourth quarter. Allworth Financial LP now owns 432 shares of the technology company's stock valued at $62,000 after acquiring an additional 121 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in Jabil by 17.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 2,062 shares of the technology company's stock valued at $297,000 after acquiring an additional 305 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Jabil by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company's stock worth $20,616,000 after purchasing an additional 5,993 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Company 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).

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