Jabil (NYSE:JBL) Price Target Cut to $154.00 by Analysts at JPMorgan Chase & Co.

Jabil (NYSE:JBL) had its price target cut by research analysts at JPMorgan Chase & Co. from $175.00 to $154.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 14.10% from the company’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group reduced their price objective on Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. UBS Group boosted their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. Barclays raised their price objective on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Finally, StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.50.

Jabil Stock Up 0.8 %

JBL opened at $134.97 on Thursday. Jabil has a one year low of $95.85 and a one year high of $174.80. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.65 and a beta of 1.12. The business’s fifty day moving average is $142.95 and its two-hundred day moving average is $141.38. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. Analysts anticipate that Jabil will post 8.05 EPS for the current fiscal year.

Insider Activity at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $131.56, for a total value of $2,631,200.00. Following the transaction, the chairman now owns 1,730,192 shares in the company, valued at approximately $227,624,059.52. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the sale, the director now owns 12,900 shares of the company’s stock, valued at approximately $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,400 shares of company stock worth $11,810,418. 1.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JBL. Wellington Management Group LLP grew its stake in shares of Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after buying an additional 5,800,535 shares in the last quarter. FMR LLC grew its position in Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock valued at $796,220,000 after acquiring an additional 416,841 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Jabil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock valued at $404,024,000 after purchasing an additional 34,574 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock worth $270,187,000 after purchasing an additional 288,806 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Jabil in the fourth quarter valued at $218,430,000. Institutional investors and hedge funds 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).