Jabil Inc (NYSE:JBL) Short Interest Up 13.4% in October

Jabil Inc (NYSE:JBL) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,330,000 shares, a growth of 13.4% from the September 30th total of 4,700,000 shares. Based on an average trading volume of 1,470,000 shares, the days-to-cover ratio is presently 3.6 days. Approximately 3.7% of the shares of the stock are sold short.

Several research firms recently commented on JBL. Citigroup increased their price target on Jabil from $36.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada began coverage on Jabil in a report on Tuesday, November 12th. They issued a “sector perform” rating and a $41.00 price target for the company. Standpoint Research cut Jabil from a “buy” rating to a “hold” rating in a report on Friday, November 1st. ValuEngine cut Jabil from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America increased their price target on Jabil from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Jabil presently has a consensus rating of “Hold” and a consensus target price of $37.13.

Jabil stock traded up $0.33 during mid-day trading on Friday, hitting $39.02. The company’s stock had a trading volume of 1,071,768 shares, compared to its average volume of 1,241,871. The firm has a market capitalization of $5.91 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.97. Jabil has a 1 year low of $21.49 and a 1 year high of $39.72. The company has a current ratio of 0.98, a quick ratio of 0.62 and a debt-to-equity ratio of 1.12. The stock’s fifty day moving average is $36.70 and its two-hundred day moving average is $31.01.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Tuesday, September 24th. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. The company had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.63 billion. Jabil had a return on equity of 15.90% and a net margin of 1.14%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. On average, equities analysts expect that Jabil will post 2.49 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.08 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.82%. Jabil’s payout ratio is 17.68%.

In related news, CFO Michael Dastoor sold 18,486 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.43, for a total value of $728,902.98. Following the completion of the sale, the chief financial officer now owns 204,702 shares of the company’s stock, valued at $8,071,399.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Courtney J. Ryan sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the sale, the executive vice president now directly owns 307,413 shares of the company’s stock, valued at approximately $9,837,216. The disclosure for this sale can be found here. Insiders have sold 307,132 shares of company stock valued at $11,074,949 in the last three months. Insiders own 2.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Jabil by 4.9% during the second quarter. BlackRock Inc. now owns 14,301,993 shares of the technology company’s stock worth $451,943,000 after buying an additional 662,350 shares during the period. Vanguard Group Inc. boosted its holdings in Jabil by 0.3% in the second quarter. Vanguard Group Inc. now owns 14,239,040 shares of the technology company’s stock valued at $449,954,000 after purchasing an additional 41,893 shares during the period. Texas Yale Capital Corp. boosted its holdings in Jabil by 0.7% in the third quarter. Texas Yale Capital Corp. now owns 9,604,758 shares of the technology company’s stock valued at $343,562,000 after purchasing an additional 65,000 shares during the period. LSV Asset Management boosted its holdings in Jabil by 0.8% in the second quarter. LSV Asset Management now owns 6,587,203 shares of the technology company’s stock valued at $208,155,000 after purchasing an additional 49,754 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in Jabil by 80.7% in the second quarter. Nuveen Asset Management LLC now owns 1,790,319 shares of the technology company’s stock valued at $56,574,000 after buying an additional 799,777 shares in the last quarter. Institutional investors and hedge funds own 89.09% of the company’s stock.

About Jabil

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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