Jabil's (JBL) Strong-Buy Rating Reiterated at Raymond James Financial

Jabil (NYSE:JBL - Get Free Report)'s stock had its "strong-buy" rating reaffirmed by equities researchers at Raymond James Financial in a note issued to investors on Wednesday,Benzinga reports. They currently have a $230.00 price target on the technology company's stock, up from their previous price target of $170.00. Raymond James Financial's target price points to a potential upside of 12.44% from the stock's current price.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. boosted their price objective on Jabil from $180.00 to $214.00 and gave the stock an "overweight" rating in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday. Wall Street Zen raised shares of Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Finally, UBS Group increased their target price on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $200.00.

Jabil Stock Performance

Shares of Jabil stock traded up $7.66 during trading hours on Wednesday, reaching $204.55. The company had a trading volume of 1,485,952 shares, compared to its average volume of 1,456,147. The firm has a market cap of $21.96 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 1.76 and a beta of 1.14. Jabil has a one year low of $95.85 and a one year high of $206.61. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.02 and a quick ratio of 0.66. The business has a fifty day simple moving average of $157.94 and a 200 day simple moving average of $151.63.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results 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 business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 1.76% and a return on equity of 49.64%. Jabil's revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, analysts anticipate that Jabil will post 8.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the completion of the sale, the chairman now owns 1,710,192 shares of the company's stock, valued at $285,174,516. This represents a 1.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Dastoor sold 10,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,693 shares in the company, valued at approximately $37,665,640.70. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $7,665,200 over the last three months. Insiders own 1.73% of the company's stock.

Hedge Funds Weigh In On Jabil

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Hawaiian Bank boosted its position in shares of Jabil by 47.9% during the first quarter. First Hawaiian Bank now owns 10,647 shares of the technology company's stock valued at $1,449,000 after purchasing an additional 3,447 shares in the last quarter. Inspire Investing LLC lifted its position in Jabil by 52.0% during the first quarter. Inspire Investing LLC now owns 17,743 shares of the technology company's stock valued at $2,414,000 after buying an additional 6,072 shares during the period. Invst LLC bought a new stake in shares of Jabil during the 1st quarter valued at $630,000. Modern Wealth Management LLC grew its position in shares of Jabil by 21.1% in the 1st quarter. Modern Wealth Management LLC now owns 1,762 shares of the technology company's stock worth $240,000 after buying an additional 307 shares during the period. Finally, Strs Ohio bought a new position in shares of Jabil in the 1st quarter worth about $26,118,000. 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).

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