Jabil Circuit Inc. (JBL) Rating Increased to Buy at Standpoint Research
Jabil Circuit Inc. (NYSE:JBL) was upgraded by Standpoint Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
JBL has been the subject of several other research reports. Goldman Sachs Group Inc. raised shares of Jabil Circuit from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $16.00 to $21.00 in a research note on Tuesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Jabil Circuit in a research note on Tuesday, September 20th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $23.00 price target (up previously from $20.00) on shares of Jabil Circuit in a research note on Friday, September 23rd. B. Riley reaffirmed a “buy” rating and set a $27.00 price target on shares of Jabil Circuit in a research note on Tuesday, October 4th. Finally, Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research note on Wednesday, September 28th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.93.
Shares of Jabil Circuit (NYSE:JBL) opened at 21.72 on Tuesday. Jabil Circuit has a 52 week low of $16.78 and a 52 week high of $26.00. The stock has a market capitalization of $4.03 billion, a P/E ratio of 16.45 and a beta of 0.94. The firm’s 50-day moving average price is $21.37 and its 200 day moving average price is $20.31.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business earned $4.40 billion during the quarter. Jabil Circuit had a net margin of 1.38% and a return on equity of 12.22%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. Analysts expect that Jabil Circuit will post $2.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, November 10th. Jabil Circuit’s dividend payout ratio (DPR) is presently 24.24%.
In other news, President William E. Peters sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total transaction of $465,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Loparco sold 2,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $21.90, for a total transaction of $43,800.00. Following the sale, the chief executive officer now directly owns 241,092 shares in the company, valued at $5,279,914.80. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. First Quadrant L P CA raised its stake in shares of Jabil Circuit by 16.4% in the second quarter. First Quadrant L P CA now owns 204,100 shares of the company’s stock worth $3,770,000 after buying an additional 28,700 shares during the period. Highland Capital Management LLC bought a new stake in shares of Jabil Circuit during the second quarter worth $1,342,000. Eqis Capital Management Inc. raised its stake in shares of Jabil Circuit by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 15,195 shares of the company’s stock worth $281,000 after buying an additional 673 shares during the period. Foundry Partners LLC raised its stake in shares of Jabil Circuit by 3.7% in the second quarter. Foundry Partners LLC now owns 464,290 shares of the company’s stock worth $8,575,000 after buying an additional 16,350 shares during the period. Finally, Breton Hill Capital Ltd. raised its stake in shares of Jabil Circuit by 3.7% in the second quarter. Breton Hill Capital Ltd. now owns 48,677 shares of the company’s stock worth $899,000 after buying an additional 1,755 shares during the period. 89.47% of the stock is currently owned by hedge funds and other 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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