The Goldman Sachs Group Cuts Jabil (NYSE:JBL) Price Target to $146.00

Jabil (NYSE:JBL) had its price target decreased by The Goldman Sachs Group from $175.00 to $146.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. JPMorgan Chase & Co. upped their target price on shares of Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. UBS Group lifted their price target on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Barclays increased their price objective on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Jabil Trading Down 0.1 %

JBL stock opened at $131.85 on Thursday. The firm’s fifty day simple moving average is $146.05 and its two-hundred day simple moving average is $141.08. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Jabil has a twelve month low of $95.85 and a twelve month high of $174.80.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the company posted $1.68 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts anticipate that Jabil will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date was Tuesday, February 18th. Jabil’s payout ratio is 7.66%.

Insider Buying and Selling

In other Jabil news, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now owns 12,900 shares in the company, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Plant sold 50,000 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the sale, the director now directly owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jabil

Institutional investors and hedge funds have recently bought and sold shares of the company. Radnor Capital Management LLC boosted its position in shares of Jabil by 7.7% in the 1st quarter. Radnor Capital Management LLC now owns 3,950 shares of the technology company’s stock worth $537,000 after purchasing an additional 281 shares in the last quarter. Procyon Advisors LLC boosted its holdings in Jabil by 440.5% in the first quarter. Procyon Advisors LLC now owns 9,896 shares of the technology company’s stock worth $1,347,000 after acquiring an additional 8,065 shares in the last quarter. Retireful LLC purchased a new stake in shares of Jabil during the first quarter worth about $1,132,000. Matrix Trust Co increased its holdings in shares of Jabil by 29.2% during the first quarter. Matrix Trust Co now owns 1,877 shares of the technology company’s stock valued at $255,000 after acquiring an additional 424 shares in the last quarter. Finally, Merit Financial Group LLC raised its position in shares of Jabil by 94.2% in the 1st quarter. Merit Financial Group LLC now owns 3,171 shares of the technology company’s stock valued at $431,000 after purchasing an additional 1,538 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

About Jabil

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; 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).