JPMorgan Chase & Co. Boosts Jabil (NYSE:JBL) Price Target to $214.00

Jabil (NYSE:JBL - Free Report) had its target price boosted by JPMorgan Chase & Co. from $180.00 to $214.00 in a research note published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company's stock.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Jabil from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. UBS Group lifted their price objective on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research note on Wednesday. Barclays lifted their price objective on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on Jabil from $165.00 to $188.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $213.57.

Jabil Price Performance

Jabil stock traded up $1.06 during midday trading on Wednesday, reaching $205.72. 3,050,936 shares of the company were exchanged, compared to its average volume of 1,447,413. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 39.95, a P/E/G ratio of 1.97 and a beta of 1.14. The firm's 50-day simple moving average is $162.20 and its 200-day simple moving average is $152.96. Jabil has a 1 year low of $95.85 and a 1 year high of $208.69. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.66 and a current ratio of 0.98.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, analysts anticipate that Jabil will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.16%. Jabil's payout ratio is currently 6.21%.

Insider Activity at Jabil

In other Jabil news, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 221,693 shares in the company, valued at $37,665,640.70. The trade was a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the sale, the chairman now owns 1,730,192 shares in the company, valued at $227,624,059.52. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 277,976 shares of company stock worth $52,261,361. 1.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jabil

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in Jabil during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Jabil during the 1st quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in Jabil during the 4th quarter worth approximately $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 last quarter. Finally, 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 last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

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).