Jabil (NYSE:JBL) Sets New 1-Year High - Here's What Happened

Jabil Inc. (NYSE:JBL - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $175.82 and last traded at $174.27, with a volume of 82963 shares traded. The stock had previously closed at $172.64.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on JBL shares. Wall Street Zen upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. The Goldman Sachs Group reduced their price target on shares of Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays upped their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. UBS Group upped their price target on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Jabil has a consensus rating of "Moderate Buy" and a consensus target price of $158.50.

Jabil Trading Up 2.5%

The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The company has a market capitalization of $18.99 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.65 and a beta of 1.14. The business's 50-day simple moving average is $150.17 and its 200-day simple moving average is $149.16.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company's revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 EPS. On average, research analysts expect that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were given a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.18%. Jabil's dividend payout ratio is 7.66%.

Insider Activity at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 1,730,192 shares in the company, valued at $227,624,059.52. This trade represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the sale, the chief executive officer now directly owns 221,693 shares of the company's stock, valued at approximately $37,665,640.70. The trade was a 4.32% 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 worth $7,665,200 in the last ninety days. Company insiders own 1.73% of the company's stock.

Institutional Trading of Jabil

Large investors have recently bought and sold shares of the business. Truist Financial Corp increased its stake in Jabil by 50.4% during the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock worth $1,732,000 after purchasing an additional 4,034 shares in the last quarter. Keybank National Association OH bought a new stake in Jabil during the 4th quarter worth approximately $214,000. Principal Financial Group Inc. increased its stake 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 purchasing an additional 5,993 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in Jabil during the 4th quarter worth approximately $272,000. Finally, LPL Financial LLC increased its stake in Jabil by 23.5% during the 4th quarter. LPL Financial LLC now owns 40,748 shares of the technology company's stock worth $5,864,000 after purchasing an additional 7,747 shares in the last quarter. 93.39% of the stock is owned by institutional investors.

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).