Jabil (NYSE:JBL) Given New $245.00 Price Target at Bank of America

Jabil (NYSE:JBL - Get Free Report) had its price target boosted by analysts at Bank of America from $225.00 to $245.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Bank of America's target price would indicate a potential upside of 18.64% from the stock's current price.

Several other research firms have also recently weighed in on JBL. Wall Street Zen raised Jabil from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. upped their price target on Jabil from $180.00 to $214.00 and gave the stock an "overweight" rating in a report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday. Barclays upped their target price on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, UBS Group raised their price target on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $213.57.

Jabil Stock Up 0.9%

Jabil stock traded up $1.86 during mid-day trading on Friday, hitting $206.52. 414,473 shares of the company's stock were exchanged, compared to its average volume of 1,453,631. Jabil has a 1-year low of $95.85 and a 1-year high of $208.57. The stock has a 50 day moving average of $160.72 and a two-hundred day moving average of $152.47. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.85. The stock has a market cap of $22.17 billion, a P/E ratio of 40.22, a P/E/G ratio of 1.97 and a beta of 1.14.

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 for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. Jabil's revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, analysts anticipate that Jabil will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling at Jabil

In other Jabil news, 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 transaction, the chief executive officer now directly owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total value of $2,631,200.00. Following the transaction, the chairman now directly owns 1,730,192 shares of the company's stock, valued at approximately $227,624,059.52. The trade was a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $7,665,200 in the last 90 days. 1.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jabil

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP grew its stake in Jabil by 38.9% during the fourth quarter. Allworth Financial LP now owns 432 shares of the technology company's stock worth $62,000 after buying an additional 121 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Jabil by 17.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 2,062 shares of the technology company's stock worth $297,000 after acquiring an additional 305 shares in the last quarter. Principal Financial Group Inc. grew its position in Jabil by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company's stock worth $20,616,000 after acquiring an additional 5,993 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Jabil by 1.5% during the 4th quarter. CIBC Asset Management Inc now owns 16,944 shares of the technology company's stock valued at $2,438,000 after purchasing an additional 255 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in Jabil by 50.4% during the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after purchasing an additional 4,034 shares in the last quarter. Institutional investors and hedge funds 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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