Jabil (NYSE:JBL) Hits New 1-Year Low After Analyst Downgrade

Jabil Inc. (NYSE:JBLGet Rating)’s share price reached a new 52-week low during mid-day trading on Friday after Citigroup lowered their price target on the stock from $90.00 to $80.00. The company traded as low as $51.96 and last traded at $52.18, with a volume of 8432 shares. The stock had previously closed at $53.02.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Jabil from $78.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 15th. Four analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.67.

In other news, Director Anousheh Ansari sold 3,500 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $62.00, for a total transaction of $217,000.00. Following the sale, the director now owns 37,400 shares of the company’s stock, valued at $2,318,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark T. Mondello sold 12,000 shares of the stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $62.20, for a total transaction of $746,400.00. Following the sale, the chief executive officer now directly owns 2,055,589 shares in the company, valued at approximately $127,857,635.80. The disclosure for this sale can be found here. Corporate insiders own 2.59% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Allegheny Financial Group LTD purchased a new stake in shares of Jabil during the fourth quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Jabil during the fourth quarter worth approximately $29,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Jabil during the fourth quarter worth approximately $31,000. Prospera Financial Services Inc purchased a new stake in shares of Jabil during the first quarter worth approximately $32,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Jabil during the first quarter worth approximately $34,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

The company has a market capitalization of $7.48 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.01 and a quick ratio of 0.55. The company’s 50 day simple moving average is $58.62 and its 200 day simple moving average is $61.15.

Jabil (NYSE:JBLGet Rating) last announced its quarterly earnings results on Thursday, June 16th. The technology company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. Jabil had a net margin of 2.63% and a return on equity of 36.62%. During the same period last year, the company earned $1.12 EPS. On average, equities analysts forecast that Jabil Inc. will post 6.5 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Stockholders of record on Monday, May 16th were given a dividend of $0.08 per share. The ex-dividend date was Friday, May 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.60%. Jabil’s dividend payout ratio (DPR) is presently 5.90%.

About Jabil (NYSE:JBL)

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