Jabil (NYSE:JBL) Price Target Cut to $80.00 by Analysts at Citigroup

Jabil (NYSE:JBLGet Rating) had its price target decreased by stock analysts at Citigroup from $90.00 to $80.00 in a report issued on Friday, The Fly reports. Citigroup’s target price would suggest a potential upside of 50.89% from the company’s current price.

Several other equities analysts have also issued reports on JBL. The Goldman Sachs Group lowered 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 upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Friday, April 15th. Four investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $75.67.

Jabil stock opened at $53.02 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.55 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average of $58.62 and a 200-day moving average of $61.15. The firm has a market cap of $7.49 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.75 and a beta of 1.37. Jabil has a 1-year low of $52.43 and a 1-year high of $72.11.

Jabil (NYSE:JBLGet Rating) last issued its quarterly earnings data on Thursday, June 16th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.43 by $0.29. Jabil had a net margin of 2.63% and a return on equity of 36.62%. During the same period last year, the firm earned $1.12 earnings per share. Research analysts forecast that Jabil will post 6.5 earnings per share for the current fiscal year.

In other news, CEO Mark T. Mondello sold 12,000 shares of the business’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $62.20, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anousheh Ansari sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $62.00, for a total transaction of $217,000.00. Following the completion of the sale, the director now owns 37,400 shares in the company, valued at $2,318,800. The disclosure for this sale can be found here. 2.59% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY grew its holdings in Jabil by 0.5% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 31,270 shares of the technology company’s stock valued at $1,825,000 after purchasing an additional 161 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Jabil by 1.2% in the 4th quarter. Pacer Advisors Inc. now owns 14,948 shares of the technology company’s stock worth $1,052,000 after purchasing an additional 177 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Jabil by 0.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 45,549 shares of the technology company’s stock worth $2,812,000 after purchasing an additional 180 shares during the period. Cetera Advisor Networks LLC lifted its position in shares of Jabil by 4.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock worth $246,000 after purchasing an additional 180 shares during the period. Finally, Quent Capital LLC lifted its position in shares of Jabil by 7.6% in the 1st quarter. Quent Capital LLC now owns 2,568 shares of the technology company’s stock worth $159,000 after purchasing an additional 182 shares during the period. Institutional investors own 79.69% of the company’s stock.

Jabil Company Profile (Get Rating)

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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