Shares of Jabil Inc (NYSE:JBL) hit a new 52-week low on Thursday . The stock traded as low as $23.61 and last traded at $23.91, with a volume of 77990 shares trading hands. The stock had previously closed at $23.81.
Several analysts recently weighed in on the company. TheStreet lowered Jabil from a “b-” rating to a “c+” rating in a report on Tuesday. JPMorgan Chase & Co. set a $37.00 target price on Jabil and gave the company a “buy” rating in a research note on Wednesday, September 26th. Zacks Investment Research downgraded Jabil from a “hold” rating to a “sell” rating in a research note on Wednesday, June 20th. Finally, ValuEngine downgraded Jabil from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.00.
The company has a debt-to-equity ratio of 1.27, a current ratio of 1.04 and a quick ratio of 0.57. The company has a market cap of $4.56 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.85 and a beta of 0.40.
Jabil (NYSE:JBL) last issued its earnings results on Tuesday, September 25th. The technology company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. Jabil had a return on equity of 16.56% and a net margin of 0.39%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. Jabil’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, research analysts forecast that Jabil Inc will post 2.64 EPS for the current fiscal year.
In other Jabil news, CEO Alessandro Parimbelli sold 20,500 shares of Jabil stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $26.40, for a total value of $541,200.00. Following the completion of the transaction, the chief executive officer now directly owns 339,811 shares in the company, valued at $8,971,010.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark T. Mondello sold 30,000 shares of Jabil stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $30.01, for a total value of $900,300.00. Following the completion of the transaction, the chief executive officer now owns 1,801,889 shares of the company’s stock, valued at $54,074,688.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,245 shares of company stock valued at $2,618,431. 2.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Clinton Group Inc. acquired a new position in shares of Jabil during the third quarter worth approximately $790,000. Fox Run Management L.L.C. acquired a new position in shares of Jabil during the third quarter worth approximately $300,000. United Services Automobile Association boosted its position in shares of Jabil by 1.2% during the second quarter. United Services Automobile Association now owns 258,319 shares of the technology company’s stock worth $7,145,000 after buying an additional 3,172 shares during the period. Royal London Asset Management Ltd. acquired a new position in shares of Jabil during the second quarter worth approximately $4,246,000. Finally, Northern Trust Corp boosted its position in shares of Jabil by 7.1% during the second quarter. Northern Trust Corp now owns 2,018,480 shares of the technology company’s stock worth $55,831,000 after buying an additional 133,721 shares during the period. Institutional investors and hedge funds own 89.88% of the company’s stock.
About Jabil (NYSE:JBL)
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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