Jabil Circuit, Inc. (JBL) Downgraded to Buy at BidaskClub

BidaskClub cut shares of Jabil Circuit, Inc. (NYSE:JBL) from a strong-buy rating to a buy rating in a report published on Saturday morning.

JBL has been the subject of a number of other reports. Goldman Sachs Group, Inc. (The) lifted their price objective on Jabil Circuit from $25.00 to $26.00 and gave the company a neutral rating in a report on Thursday, March 16th. Stifel Nicolaus lifted their price objective on Jabil Circuit from $23.00 to $26.00 and gave the company a hold rating in a report on Thursday, March 16th. Standpoint Research cut Jabil Circuit from a buy rating to a hold rating in a report on Wednesday, March 1st. Raymond James Financial, Inc. reissued a market perform rating and set a $26.00 price objective on shares of Jabil Circuit in a report on Tuesday, February 28th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Jabil Circuit from a hold rating to a buy rating and set a $32.00 price objective for the company in a report on Tuesday, March 21st. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Jabil Circuit presently has an average rating of Hold and an average price target of $26.18.

Jabil Circuit (JBL) traded down 3.33% during trading on Friday, hitting $28.46. 4,454,927 shares of the stock traded hands. The stock has a market cap of $5.19 billion, a PE ratio of 35.49 and a beta of 0.58. Jabil Circuit has a one year low of $17.27 and a one year high of $31.70. The company has a 50-day moving average price of $29.66 and a 200 day moving average price of $26.53.

Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. Analysts expect that Jabil Circuit will post $2.10 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.12%. Jabil Circuit’s payout ratio is 50.00%.

In related news, Director Thomas A. Sansone sold 25,000 shares of Jabil Circuit stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the sale, the director now directly owns 176,688 shares in the company, valued at $5,521,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO William D. Muir, Jr. sold 2,000 shares of Jabil Circuit stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $29.08, for a total value of $58,160.00. Following the completion of the sale, the chief operating officer now owns 522,085 shares of the company’s stock, valued at $15,182,231.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 295,016 shares of company stock valued at $8,801,536. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in JBL. PNC Financial Services Group Inc. raised its stake in shares of Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock worth $236,000 after buying an additional 109 shares during the last quarter. Greenwich Wealth Management LLC raised its stake in shares of Jabil Circuit by 1.0% in the first quarter. Greenwich Wealth Management LLC now owns 24,330 shares of the technology company’s stock worth $704,000 after buying an additional 230 shares during the last quarter. Pegasus Partners Ltd. raised its stake in shares of Jabil Circuit by 0.7% in the first quarter. Pegasus Partners Ltd. now owns 32,719 shares of the technology company’s stock worth $946,000 after buying an additional 232 shares during the last quarter. Advantus Capital Management Inc raised its stake in shares of Jabil Circuit by 1.2% in the first quarter. Advantus Capital Management Inc now owns 23,332 shares of the technology company’s stock worth $675,000 after buying an additional 268 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Jabil Circuit by 2.0% in the first quarter. Creative Planning now owns 18,157 shares of the technology company’s stock worth $525,000 after buying an additional 351 shares during the last quarter. Hedge funds and other institutional investors own 95.26% of the company’s stock.

Jabil Circuit Company Profile

Jabil circuit, Inc provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.

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