Jabil (NYSE:JBL) Hits New 52-Week High - Time to Buy?

Key Points

• Jabil shares reached a new 52-week high of $231.74, closing at $230.95, reflecting a strong performance with 137,675 shares traded.
• Analysts show a generally positive outlook, with **seven analysts** rating Jabil as a "buy" and a consensus price target of **$231.71**, although Wall Street Zen downgraded the stock from "strong-buy" to "buy".
• In the most recent earnings report, Jabil posted **$2.55 EPS**, surpassing estimates and demonstrating a **15.7% year-over-year revenue growth** to **$7.83 billion**.

Jabil, Inc. (NYSE:JBL - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $231.74 and last traded at $230.95, with a volume of 137675 shares trading hands. The stock had previously closed at $224.79.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America upped their price target on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Stifel Nicolaus assumed coverage on Jabil in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price target on the stock. Wall Street Zen cut Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. UBS Group increased their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. increased their target price on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $231.71.

Jabil Stock Down 1.2%

The firm has a fifty day moving average price of $203.08 and a 200 day moving average price of $168.48. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The company has a market cap of $23.66 billion, a P/E ratio of 42.65, a PEG ratio of 1.58 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion for 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. Equities research analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Andrew Priestley sold 13,913 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $203.17, for a total value of $2,826,704.21. Following the transaction, the executive vice president owned 53,528 shares in the company, valued at $10,875,283.76. This trade represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Dastoor sold 18,234 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total value of $3,494,728.44. Following the completion of the transaction, the chief executive officer owned 203,459 shares in the company, valued at approximately $38,994,951.94. This represents a 8.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 322,847 shares of company stock valued at $63,849,847 over the last 90 days. Corporate insiders own 1.73% of the company's stock.

Hedge Funds Weigh In On Jabil

Hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in Jabil by 23.5% in the fourth quarter. LPL Financial LLC now owns 40,748 shares of the technology company's stock valued at $5,864,000 after buying an additional 7,747 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Jabil by 144.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,698 shares of the technology company's stock valued at $676,000 after buying an additional 2,773 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Jabil in the fourth quarter valued at about $2,074,000. Schroder Investment Management Group lifted its stake in Jabil by 32.4% in the fourth quarter. Schroder Investment Management Group now owns 2,780 shares of the technology company's stock valued at $400,000 after buying an additional 681 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in Jabil by 12.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,169 shares of the technology company's stock valued at $334,000 after buying an additional 240 shares during the period. 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).