Jabil (JBL) Upgraded by Zacks Investment Research to Hold
Jabil (NYSE:JBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Jabil is benefiting from high growth in the healthcare & packaging business. Strong performance of the EMS segment is also a key growth driver. The company is also witnessing robust growth and better product placements, which is further expected to improve owing to strategic acquisitions. The restructuring program is also aiding the company to significantly cut back its expenses while maintaining its production capacities, thereby driving profitability. In the past one-year, the stock has outperformed the industry it belongs to. However, the company is negatively impacted by sluggishness in mobility business, customer concentration and intensifying competition.”
JBL has been the subject of several other reports. UBS Group reissued a “buy” rating and issued a $35.00 target price on shares of Jabil in a research report on Tuesday, October 17th. Raymond James Financial reissued a “hold” rating on shares of Jabil in a research report on Thursday, December 14th. ValuEngine downgraded shares of Jabil from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 4th. Argus raised shares of Jabil from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Monday, December 18th. Finally, Goldman Sachs Group decreased their target price on shares of Jabil to $24.00 and set a “sell” rating for the company in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.27.
Jabil (NYSE:JBL) last posted its earnings results on Thursday, December 14th. The technology company reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.50 billion. Jabil had a net margin of 0.54% and a return on equity of 12.95%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share. equities analysts predict that Jabil will post 2.06 earnings per share for the current year.
In other news, SVP Sergio Cadavid sold 12,000 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $28.50, for a total value of $342,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $28.48, for a total transaction of $854,400.00. Following the completion of the sale, the chief executive officer now owns 1,836,889 shares of the company’s stock, valued at $52,314,598.72. The disclosure for this sale can be found here. Insiders sold 89,830 shares of company stock valued at $2,510,583 over the last 90 days. 2.60% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. State of Tennessee Treasury Department lifted its stake in shares of Jabil by 7.4% in the fourth quarter. State of Tennessee Treasury Department now owns 290,000 shares of the technology company’s stock worth $7,613,000 after buying an additional 20,000 shares during the last quarter. TCW Group Inc. acquired a new stake in shares of Jabil in the fourth quarter worth $453,000. Systematic Financial Management LP lifted its stake in shares of Jabil by 7.6% in the fourth quarter. Systematic Financial Management LP now owns 53,580 shares of the technology company’s stock worth $1,406,000 after buying an additional 3,775 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Jabil by 33.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,010,956 shares of the technology company’s stock worth $52,788,000 after buying an additional 507,700 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Jabil by 4.1% during the 4th quarter. BlackRock Inc. now owns 15,673,789 shares of the technology company’s stock valued at $411,435,000 after purchasing an additional 616,359 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.
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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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