Insider Selling: Jabil Inc. (NYSE:JBL) CEO Sells 18,525 Shares of Stock

Jabil Inc. (NYSE:JBL – Get Rating) CEO Steven D. Borges sold 18,525 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $78.52, for a total transaction of $1,454,583.00. Following the transaction, the chief executive officer now directly owns 175,645 shares of the company’s stock, valued at $13,791,645.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Jabil Stock Up 1.7 %

JBL stock opened at $79.42 on Friday. Jabil Inc. has a 12 month low of $48.80 and a 12 month high of $79.67. The firm has a market cap of $10.58 billion, a PE ratio of 11.53, a P/E/G ratio of 0.86 and a beta of 1.37. The firm has a 50 day simple moving average of $70.81 and a 200 day simple moving average of $63.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.02 and a quick ratio of 0.57.

Jabil announced that its board has approved a stock repurchase plan on Tuesday, September 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Jabil

Several institutional investors and hedge funds have recently added to or reduced their stakes in JBL. Cetera Advisor Networks LLC lifted its stake in Jabil by 4.7% during the first quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock valued at $246,000 after purchasing an additional 180 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Jabil during the first quarter valued at approximately $399,000. Great West Life Assurance Co. Can lifted its stake in Jabil by 10.5% during the first quarter. Great West Life Assurance Co. Can now owns 83,585 shares of the technology company’s stock valued at $5,312,000 after purchasing an additional 7,933 shares during the last quarter. Sei Investments Co. lifted its stake in Jabil by 58.6% during the first quarter. Sei Investments Co. now owns 382,918 shares of the technology company’s stock valued at $23,633,000 after purchasing an additional 141,511 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Jabil by 656.6% during the first quarter. Canada Pension Plan Investment Board now owns 21,700 shares of the technology company’s stock valued at $1,340,000 after purchasing an additional 18,832 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JBL shares. Credit Suisse Group boosted their target price on shares of Jabil from $81.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup upped their price target on shares of Jabil from $80.00 to $85.00 in a research note on Friday, December 16th. StockNews.com started coverage on shares of Jabil in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. UBS Group started coverage on shares of Jabil in a research note on Tuesday, December 13th. They issued a “neutral” rating and a $76.00 price target for the company. Finally, Raymond James reduced their price target on shares of Jabil from $80.00 to $72.00 in a research note on Wednesday, September 28th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $78.40.

Jabil Company Profile

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Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.