Jabil (NYSE:JBL) Hits New 52-Week High – Time to Buy?

Jabil Inc. (NYSE:JBL)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $159.60 and last traded at $158.07, with a volume of 95180 shares changing hands. The stock had previously closed at $155.97.

Analysts Set New Price Targets

Several brokerages recently commented on JBL. UBS Group boosted their price target on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a research report on Monday. Bank of America upped their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Barclays upped their price target on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $153.17.

Jabil Stock Up 2.4 %

The business has a 50-day simple moving average of $140.20 and a two-hundred day simple moving average of $122.78. The stock has a market capitalization of $18.09 billion, a P/E ratio of 15.53, a PEG ratio of 1.61 and a beta of 1.23. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same quarter last year, the business earned $2.60 earnings per share. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. Equities research analysts forecast that Jabil Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Activity at Jabil

In other Jabil news, EVP Matthew Crowley sold 2,271 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $123.54, for a total value of $280,559.34. Following the completion of the transaction, the executive vice president now directly owns 15,564 shares in the company, valued at $1,922,776.56. This trade represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the transaction, the director now owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,309 shares of company stock valued at $8,354,226. 1.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Jabil during the 3rd quarter worth approximately $32,000. Brooklyn Investment Group bought a new stake in shares of Jabil during the 3rd quarter valued at $39,000. Matrix Trust Co lifted its position in shares of Jabil by 135.4% during the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after acquiring an additional 214 shares during the period. Armstrong Advisory Group Inc. lifted its position in shares of Jabil by 114.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock valued at $51,000 after acquiring an additional 228 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of Jabil by 945.7% during the 3rd quarter. Sound Income Strategies LLC now owns 481 shares of the technology company’s stock valued at $58,000 after acquiring an additional 435 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; 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).