Jabil (NYSE:JBL) Given New $256.00 Price Target at JPMorgan Chase & Co.

Jabil (NYSE:JBL - Get Free Report) had its target price raised by research analysts at JPMorgan Chase & Co. from $214.00 to $256.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 14.29% from the company's current price.

Other analysts have also issued reports about the company. The Goldman Sachs Group raised their target price on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. UBS Group increased their price target on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Bank of America boosted their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Raymond James Financial reissued a "strong-buy" rating and set a $230.00 price target (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Finally, Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $231.71.

Jabil Price Performance

JBL stock traded up $1.77 during trading on Thursday, hitting $224.00. The company had a trading volume of 1,280,116 shares, compared to its average volume of 1,424,532. The business has a 50 day moving average of $192.62 and a 200 day moving average of $164.06. The firm has a market capitalization of $24.04 billion, a price-to-earnings ratio of 43.50, a P/E/G ratio of 1.57 and a beta of 1.20. Jabil has a fifty-two week low of $95.85 and a fifty-two week high of $227.54. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The firm's quarterly revenue was up 15.7% on a year-over-year basis. As a group, research analysts predict that Jabil will post 8.05 earnings per share for the current year.

Insider Transactions at Jabil

In other Jabil news, Director Anousheh Ansari sold 1,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total value of $222,750.00. Following the completion of the sale, the director directly owned 36,400 shares in the company, valued at approximately $8,108,100. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Raymund sold 15,955 shares of Jabil stock in a transaction on Friday, June 27th. The shares were sold at an average price of $216.83, for a total transaction of $3,459,522.65. Following the completion of the sale, the director directly owned 99,828 shares of the company's stock, valued at approximately $21,645,705.24. This trade represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 297,431 shares of company stock worth $58,163,159. 1.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. grew its position in Jabil by 84.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock valued at $1,846,000 after buying an additional 6,225 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Jabil by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock valued at $33,062,000 after buying an additional 18,126 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Jabil by 7.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock valued at $453,000 after acquiring an additional 217 shares during the period. OneDigital Investment Advisors LLC bought a new position in shares of Jabil in the first quarter worth approximately $214,000. Finally, QRG Capital Management Inc. grew its holdings in Jabil by 2.3% in the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock worth $813,000 after acquiring an additional 132 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

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).