Jabil Circuit Inc. (JBL) Receives “Neutral” Rating from Goldman Sachs Group Inc.
Goldman Sachs Group Inc. reissued their neutral rating on shares of Jabil Circuit Inc. (NYSE:JBL) in a report released on Friday. Goldman Sachs Group Inc. currently has a $23.00 price target on the stock, up from their prior price target of $21.00.
A number of other research firms have also commented on JBL. Needham & Company LLC lowered shares of Jabil Circuit from a buy rating to a hold rating in a research report on Thursday, September 22nd. Bank of America Corp. reaffirmed a buy rating on shares of Jabil Circuit in a research report on Thursday, June 16th. B. Riley reaffirmed a buy rating and set a $27.00 price target (up from $22.00) on shares of Jabil Circuit in a research report on Monday, September 19th. Citigroup Inc. raised their price target on shares of Jabil Circuit from $17.00 to $18.00 and gave the stock a neutral rating in a research report on Thursday, September 22nd. Finally, Argus reaffirmed a hold rating on shares of Jabil Circuit in a research report on Thursday, June 16th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Jabil Circuit has a consensus rating of Buy and an average price target of $30.93.
Shares of Jabil Circuit (NYSE:JBL) traded up 0.78% during mid-day trading on Friday, reaching $21.99. The company’s stock had a trading volume of 564,458 shares. Jabil Circuit has a 1-year low of $16.78 and a 1-year high of $26.00. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 16.66 and a beta of 1.03. The company’s 50 day moving average price is $21.54 and its 200-day moving average price is $19.53.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Jabil Circuit had a net margin of 1.38% and a return on equity of 12.22%. The business had revenue of $4.40 billion for the quarter. During the same period in the prior year, the business posted $0.53 earnings per share. Jabil Circuit’s revenue was down 6.0% compared to the same quarter last year. Analysts predict that Jabil Circuit will post $2.04 earnings per share for the current fiscal year.
In related news, CEO Michael J. Loparco sold 2,000 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $22.90, for a total value of $45,800.00. Following the transaction, the chief executive officer now directly owns 239,092 shares of the company’s stock, valued at approximately $5,475,206.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President William E. Peters sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total transaction of $465,000.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of JBL. Norges Bank bought a new position in shares of Jabil Circuit during the fourth quarter worth $46,756,000. Aperio Group LLC increased its position in shares of Jabil Circuit by 47.1% in the first quarter. Aperio Group LLC now owns 55,686 shares of the company’s stock worth $1,073,000 after buying an additional 17,826 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Jabil Circuit by 10.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,526,574 shares of the company’s stock worth $29,417,000 after buying an additional 140,826 shares during the period. FDO Partners LLC bought a new position in shares of Jabil Circuit during the first quarter worth $1,229,000. Finally, Aston Asset Management LLC increased its position in shares of Jabil Circuit by 1.9% in the first quarter. Aston Asset Management LLC now owns 85,959 shares of the company’s stock worth $1,656,000 after buying an additional 1,633 shares during the period. 89.92% of the stock is currently owned by institutional investors.
About Jabil Circuit
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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