Jabil (NYSE:JBL) Price Target Raised to $255.00

Key Points

• Bank of America has raised Jabil's price target from $245.00 to $255.00, indicating a potential upside of 18.96% from its current price.
• Multiple analysts have given Jabil a consensus rating of "Moderate Buy", with reports showing a mix of upgrades, downgrades, and coverage initiation by various firms.
• Insider selling activity includes significant sales by executives, with total insider transactions amounting to $18.6 million over the past ninety days.

Jabil (NYSE:JBL - Get Free Report) had its price target increased by investment analysts at Bank of America from $245.00 to $255.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Bank of America's price objective points to a potential upside of 18.96% from the company's current price.

Several other equities analysts also recently issued reports on JBL. Stifel Nicolaus began coverage on shares of Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Zacks Research downgraded shares of Jabil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $243.71.

Jabil Stock Performance

Jabil stock traded up $4.16 during mid-day trading on Friday, reaching $214.36. 860,133 shares of the company traded hands, compared to its average volume of 1,439,061. 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 fifty-two week low of $108.66 and a fifty-two week high of $237.14. The company has a market capitalization of $23.01 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.25. The firm's fifty day moving average is $216.73 and its two-hundred day moving average is $183.55.

Insiders Place Their Bets

In other Jabil news, EVP Frederic E. Mccoy sold 4,500 shares of the company'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 sale, the executive vice president directly owned 124,203 shares in the company, valued at $27,765,580.65. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven A. Raymund sold 13,432 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $223.11, for a total value of $2,996,813.52. Following the completion of the sale, the director owned 86,396 shares in the company, valued at $19,275,811.56. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,416 shares of company stock valued at $18,625,639 in the last ninety days. 1.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jabil

Large investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its position in shares of Jabil by 84.8% during 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 purchasing an additional 6,225 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Jabil by 8.1% during 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 in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of 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 in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Jabil during the first quarter worth about $214,000. Finally, QRG Capital Management Inc. grew its holdings in shares of Jabil by 2.3% during the first 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 in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

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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