Jabil (NYSE:JBL) Shares Gap Down to $129.59

Jabil Inc. (NYSE:JBL) shares gapped down before the market opened on Friday . The stock had previously closed at $129.59, but opened at $126.87. Jabil shares last traded at $126.54, with a volume of 176,163 shares traded.

Analysts Set New Price Targets

JBL has been the subject of several analyst reports. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group upped their target price on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Barclays decreased their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.50.

Jabil Stock Down 4.9 %

The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 1.38 and a beta of 1.40. The stock’s fifty day simple moving average is $138.45 and its two-hundred day simple moving average is $131.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last issued its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. On average, sell-side analysts predict that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. Jabil’s dividend payout ratio (DPR) is 2.75%.

Insiders Place Their Bets

In other Jabil news, Director David M. Stout sold 31,300 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the sale, the director now directly owns 67,300 shares of the company’s stock, valued at $8,285,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David M. Stout sold 31,300 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $123.12, for a total value of $3,853,656.00. Following the sale, the director now owns 67,300 shares of the company’s stock, valued at approximately $8,285,976. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares in the company, valued at approximately $228,121,271.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,177 shares of company stock valued at $13,678,039. Company insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Jabil

Several large investors have recently made changes to their positions in the business. Monument Capital Management boosted its holdings in shares of Jabil by 1.1% in the first quarter. Monument Capital Management now owns 20,996 shares of the technology company’s stock worth $2,812,000 after buying an additional 226 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Jabil by 30.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock worth $44,387,000 after buying an additional 76,573 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of Jabil in the first quarter worth about $2,083,000. Deltec Asset Management LLC purchased a new stake in shares of Jabil in the first quarter worth approximately $938,000. Finally, Richardson Capital Management LLC purchased a new stake in shares of Jabil in the first quarter worth approximately $60,000. Institutional investors own 93.39% of the company’s stock.

About Jabil

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).