Jabil Inc. (NYSE:JBL) Short Interest Update

Jabil Inc. (NYSE:JBLGet Rating) saw a large decrease in short interest during the month of December. As of December 30th, there was short interest totalling 2,330,000 shares, a decrease of 14.3% from the December 15th total of 2,720,000 shares. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.8% of the company’s shares are short sold.

Insider Activity

In related news, SVP Francis Mckay sold 7,979 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $64.11, for a total value of $511,533.69. Following the sale, the senior vice president now directly owns 53,781 shares of the company’s stock, valued at $3,447,899.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Francis Mckay sold 7,979 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $64.11, for a total transaction of $511,533.69. Following the completion of the sale, the senior vice president now directly owns 53,781 shares in the company, valued at approximately $3,447,899.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Steven D. Borges sold 18,525 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $78.52, for a total value of $1,454,583.00. Following the completion of the transaction, the chief executive officer now directly owns 175,645 shares in the company, valued at $13,791,645.40. The disclosure for this sale can be found here. Insiders sold a total of 230,422 shares of company stock valued at $16,581,575 in the last 90 days. 2.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jabil

A number of institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of Jabil by 212.6% during the second quarter. Parallel Advisors LLC now owns 669 shares of the technology company’s stock valued at $34,000 after acquiring an additional 455 shares in the last quarter. Field & Main Bank acquired a new stake in Jabil during the 3rd quarter valued at approximately $35,000. Zions Bancorporation N.A. purchased a new stake in Jabil during the 1st quarter worth approximately $40,000. Accurate Wealth Management LLC acquired a new position in shares of Jabil in the 4th quarter valued at approximately $60,000. Finally, CWM LLC raised its position in shares of Jabil by 198.4% in the 2nd quarter. CWM LLC now owns 1,337 shares of the technology company’s stock valued at $68,000 after purchasing an additional 889 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Jabil Trading Up 1.7 %

JBL opened at $79.42 on Friday. The firm’s 50 day moving average is $70.81 and its 200-day moving average is $63.42. Jabil has a 52-week low of $48.80 and a 52-week high of $79.67. The company has a quick ratio of 0.57, a current ratio of 1.02 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $10.58 billion, a P/E ratio of 11.53, a P/E/G ratio of 0.86 and a beta of 1.37.

Jabil announced that its board has initiated a stock buyback program on Tuesday, September 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 12.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

JBL has been the subject of a number of research analyst reports. Raymond James dropped their target price on shares of Jabil from $80.00 to $72.00 in a research report on Wednesday, September 28th. UBS Group assumed coverage on shares of Jabil in a research note on Tuesday, December 13th. They issued a “neutral” rating and a $76.00 target price on the stock. Citigroup lifted their target price on shares of Jabil from $80.00 to $85.00 in a report on Friday, December 16th. Credit Suisse Group increased their price target on Jabil from $81.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, StockNews.com started coverage on Jabil in a research note on Wednesday, October 12th. They set a “strong-buy” rating on the stock. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.

Further Reading

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