Jabil (NYSE:JBL) Cut to Buy at Wall Street Zen

Jabil (NYSE:JBL - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on the company. UBS Group upped their price objective on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Bank of America increased their price objective on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. Barclays increased their price objective on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Raymond James Financial reissued a "strong-buy" rating and issued a $230.00 price objective (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. One research 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 company. According to data from MarketBeat.com, Jabil has a consensus rating of "Buy" and a consensus target price of $225.71.

Jabil Stock Up 0.4%

Shares of JBL stock traded up $0.96 during mid-day trading on Friday, hitting $221.92. The stock had a trading volume of 864,591 shares, compared to its average volume of 1,420,138. Jabil has a 12-month low of $95.85 and a 12-month high of $227.54. The firm has a market capitalization of $23.82 billion, a P/E ratio of 43.09, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. The firm's 50-day moving average is $185.78 and its two-hundred day moving average is $161.43. 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 (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 firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. On average, analysts predict that Jabil will post 8.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 15,955 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $216.83, for a total value of $3,459,522.65. Following the transaction, the director owned 99,828 shares in the company, valued at $21,645,705.24. This trade represents a 13.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Priestley sold 13,913 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $203.17, for a total value of $2,826,704.21. Following the completion of the transaction, the executive vice president owned 53,528 shares in the company, valued at approximately $10,875,283.76. This trade represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 297,431 shares of company stock valued at $58,163,159. 1.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jabil

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV purchased a new position in Jabil during the first quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in Jabil during the 4th quarter worth about $29,000. Harbor Capital Advisors Inc. increased its holdings in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after purchasing an additional 116 shares during the period. Groupe la Francaise increased its holdings in Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after purchasing an additional 64 shares during the period. Finally, Millstone Evans Group LLC acquired a new position in shares of Jabil during the 4th quarter worth about $37,000. Hedge funds and other institutional investors 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).