JPMorgan Chase & Co. Issues Pessimistic Forecast for Jabil (NYSE:JBL) Stock Price

Jabil (NYSE:JBL - Get Free Report) had its price target cut by stock analysts at JPMorgan Chase & Co. from $175.00 to $154.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 16.36% from the stock's current price.

A number of other research firms have also recently commented on JBL. Stifel Nicolaus reiterated a "buy" rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group raised their price target on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a report on Friday, March 21st. StockNews.com upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Friday, March 21st. Barclays increased their price target on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group reduced their price objective on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $158.50.

Jabil Stock Up 2.0 %

Shares of Jabil stock traded up $2.60 on Thursday, hitting $132.35. The company had a trading volume of 231,787 shares, compared to its average volume of 1,476,451. The stock has a 50-day moving average of $142.17 and a 200-day moving average of $141.75. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. Jabil has a twelve month low of $95.85 and a twelve month high of $174.80. The firm has a market capitalization of $14.21 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.65 and a beta of 1.12.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $6.73 billion during the quarter, compared to analysts' expectations of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.68 EPS. Research analysts predict that Jabil will post 8.05 earnings per share for the current year.

Insider Transactions at Jabil

In other Jabil news, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now owns 12,900 shares in the company, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the sale, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,400 shares of company stock valued at $11,810,418. Company insiders own 1.73% of the company's stock.

Hedge Funds Weigh In On Jabil

Several institutional investors and hedge funds have recently added to or reduced their stakes in JBL. Praxis Investment Management Inc. raised its position in Jabil by 20.2% during the 1st quarter. Praxis Investment Management Inc. now owns 2,560 shares of the technology company's stock worth $348,000 after purchasing an additional 430 shares during the last quarter. Deltec Asset Management LLC bought a new position in Jabil during the 1st quarter worth approximately $490,000. Duncan Williams Asset Management LLC lifted its position in shares of Jabil by 8.6% in the 1st quarter. Duncan Williams Asset Management LLC now owns 5,578 shares of the technology company's stock worth $759,000 after purchasing an additional 440 shares during the period. Friedenthal Financial acquired a new stake in shares of Jabil during the first quarter worth $76,000. Finally, Kingswood Wealth Advisors LLC raised its stake in Jabil by 7.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock worth $453,000 after buying an additional 217 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

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).