ValuEngine Lowers Jabil Circuit, Inc. (JBL) to Buy
ValuEngine lowered shares of Jabil Circuit, Inc. (NYSE:JBL) from a strong-buy rating to a buy rating in a research note published on Monday.
A number of other equities analysts also recently commented on the company. BidaskClub downgraded Jabil Circuit from a strong-buy rating to a buy rating in a report on Saturday, June 17th. Needham & Company LLC restated a buy rating and issued a $30.00 price objective on shares of Jabil Circuit in a report on Tuesday, June 13th. Macquarie initiated coverage on Jabil Circuit in a report on Thursday, June 22nd. They issued an outperform rating on the stock. Bank of America Corporation restated a buy rating and issued a $34.00 price objective (up from $33.00) on shares of Jabil Circuit in a report on Monday, June 19th. Finally, Stifel Nicolaus raised their price objective on Jabil Circuit from $29.00 to $30.00 and gave the stock a hold rating in a report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Jabil Circuit has a consensus rating of Hold and a consensus target price of $30.50.
Jabil Circuit (NYSE JBL) traded up 0.47% during trading on Monday, reaching $29.91. The company’s stock had a trading volume of 986,224 shares. The company’s 50-day moving average is $30.13 and its 200-day moving average is $29.73. The company has a market capitalization of $5.36 billion, a P/E ratio of 46.02 and a beta of 0.59. Jabil Circuit has a 1-year low of $20.32 and a 1-year high of $31.70.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.86 billion. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business posted $0.28 EPS. Equities analysts anticipate that Jabil Circuit will post $2.59 EPS for the current year.
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Jabil Circuit announced that its Board of Directors has authorized a stock repurchase plan on Thursday, July 20th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $30.47, for a total value of $914,100.00. Following the sale, the chief executive officer now owns 1,907,619 shares of the company’s stock, valued at approximately $58,125,150.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 90,521 shares of company stock worth $2,740,446 in the last ninety days. 2.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Jabil Circuit by 10,288.7% in the 1st quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock worth $442,528,000 after acquiring an additional 15,154,502 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Jabil Circuit by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 13,967,548 shares of the technology company’s stock worth $407,712,000 after acquiring an additional 134,408 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Jabil Circuit by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,951,206 shares of the technology company’s stock worth $173,715,000 after acquiring an additional 309,380 shares during the last quarter. AJO LP grew its holdings in shares of Jabil Circuit by 7,383.3% in the 2nd quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock worth $102,533,000 after acquiring an additional 3,465,668 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Jabil Circuit by 11.8% in the 2nd quarter. LSV Asset Management now owns 3,071,682 shares of the technology company’s stock worth $89,662,000 after acquiring an additional 323,845 shares during the last quarter. 93.05% of the stock is currently owned by institutional investors.
About Jabil Circuit
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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