JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Jabil (NYSE:JBL) Stock

Jabil (NYSE:JBL - Get Free Report) had its price target upped by investment analysts at JPMorgan Chase & Co. from $180.00 to $214.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 4.01% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. UBS Group upped their target price on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday. Wall Street Zen raised Jabil from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Barclays lifted their target price 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 upped their price target on Jabil from $165.00 to $188.00 and gave the stock 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 report on Wednesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Jabil has a consensus rating of "Moderate Buy" and an average price target of $190.50.

Jabil Stock Performance

JBL traded up $8.87 during trading on Wednesday, hitting $205.76. 552,556 shares of the stock were exchanged, compared to its average volume of 1,375,305. The company has a quick ratio of 0.66, a current ratio of 1.02 and a debt-to-equity ratio of 2.12. Jabil has a 1-year low of $95.85 and a 1-year high of $203.90. The stock has a fifty day moving average price of $157.94 and a two-hundred day moving average price of $151.63. The firm has a market capitalization of $22.09 billion, a P/E ratio of 49.25, a PEG ratio of 1.76 and a beta of 1.14.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a return on equity of 49.64% and a net margin of 1.76%. The company's revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 earnings per share. As a group, sell-side analysts predict that Jabil will post 8.05 earnings per share for the current year.

Insider Activity at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the completion of the transaction, the chairman now directly owns 1,710,192 shares of the company's stock, valued at approximately $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Dastoor sold 10,000 shares of the business's stock in a transaction 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 owns 221,693 shares in the company, 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 a total of 50,000 shares of company stock worth $7,665,200 over the last three months. 1.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in Jabil by 1,327.3% in the 4th quarter. Van ECK Associates Corp now owns 22,680 shares of the technology company's stock valued at $3,264,000 after acquiring an additional 21,091 shares during the last quarter. Principal Securities Inc. grew its position in shares of Jabil by 240.8% in the fourth quarter. Principal Securities Inc. now owns 9,599 shares of the technology company's stock valued at $1,381,000 after purchasing an additional 6,782 shares during the last quarter. Allworth Financial LP increased its stake in shares of Jabil by 38.9% during the 4th quarter. Allworth Financial LP now owns 432 shares of the technology company's stock worth $62,000 after purchasing an additional 121 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Jabil by 17.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 2,062 shares of the technology company's stock worth $297,000 after purchasing an additional 305 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

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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