Jabil (JBL) Upgraded by Goldman Sachs Group to Neutral
Goldman Sachs Group upgraded shares of Jabil (NYSE:JBL) from a sell rating to a neutral rating in a research report sent to investors on Sunday morning, MarketBeat reports. They currently have $25.00 price objective on the technology company’s stock.
JBL has been the subject of several other reports. TheStreet downgraded Jabil from a b- rating to a c+ rating in a report on Tuesday, October 9th. ValuEngine raised Jabil from a sell rating to a hold rating in a report on Thursday, November 1st. Finally, JPMorgan Chase & Co. set a $37.00 target price on Jabil and gave the company a buy rating in a report on Wednesday, September 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Jabil presently has a consensus rating of Hold and a consensus target price of $32.67.
Jabil stock opened at $24.69 on Friday. Jabil has a fifty-two week low of $23.04 and a fifty-two week high of $31.77. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $4.09 billion, a PE ratio of 11.38 and a beta of 0.54.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Wednesday, November 14th. Jabil’s payout ratio is currently 14.75%.
In related news, President William E. Peters sold 13,915 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $29.48, for a total value of $410,214.20. Following the transaction, the president now owns 511,562 shares in the company, valued at approximately $15,080,847.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $30.01, for a total value of $900,300.00. Following the completion of the transaction, the chief executive officer now owns 1,801,889 shares in the company, valued at approximately $54,074,688.89. The disclosure for this sale can be found here. Insiders sold a total of 92,245 shares of company stock worth $2,589,070 in the last 90 days. 2.60% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of JBL. MUFG Americas Holdings Corp acquired a new position in Jabil in the 2nd quarter valued at about $130,000. First Hawaiian Bank acquired a new position in Jabil in the 3rd quarter valued at about $141,000. Aviance Capital Management LLC acquired a new position in Jabil in the 3rd quarter valued at about $147,000. Ffcm LLC increased its position in Jabil by 306.8% in the 3rd quarter. Ffcm LLC now owns 6,533 shares of the technology company’s stock valued at $176,000 after acquiring an additional 4,927 shares during the period. Finally, LMR Partners LLP acquired a new position in Jabil in the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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