Jabil Circuit, Inc. (JBL) Lowered to Sell at Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) downgraded shares of Jabil Circuit, Inc. (NYSE:JBL) from a neutral rating to a sell rating in a research report released on Tuesday. They currently have $26.00 target price on the technology company’s stock, down from their previous target price of $28.00.

Other analysts have also issued research reports about the stock. UBS AG restated a buy rating and issued a $35.00 target price (up previously from $30.00) on shares of Jabil Circuit in a research report on Friday, June 16th. BidaskClub upgraded shares of Jabil Circuit from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. ValuEngine lowered shares of Jabil Circuit from a strong-buy rating to a buy rating in a research report on Monday, October 2nd. Stifel Nicolaus raised their target price on shares of Jabil Circuit from $29.00 to $30.00 and gave the company a hold rating in a research report on Thursday, June 15th. Finally, J P Morgan Chase & Co restated a buy rating and issued a $40.00 target price on shares of Jabil Circuit in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $30.50.

Jabil Circuit (NYSE JBL) traded down 0.32% on Tuesday, reaching $28.48. 274,794 shares of the company traded hands. Jabil Circuit has a 52-week low of $20.32 and a 52-week high of $31.70. The company has a market capitalization of $5.10 billion, a PE ratio of 41.28 and a beta of 0.59. The stock has a 50-day moving average of $30.11 and a 200 day moving average of $29.76.

Jabil Circuit (NYSE:JBL) last issued its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts forecast that Jabil Circuit will post $2.59 EPS for the current year.

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Jabil Circuit declared that its board has initiated a stock buyback plan on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

In other news, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.02, for a total transaction of $870,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 90,521 shares of company stock valued at $2,740,446 in the last ninety days. Insiders own 2.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in JBL. Envestnet Asset Management Inc. raised its stake in shares of Jabil Circuit by 4.0% during the first quarter. Envestnet Asset Management Inc. now owns 28,895 shares of the technology company’s stock valued at $834,000 after acquiring an additional 1,108 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Jabil Circuit by 3.5% during the first quarter. Stifel Financial Corp now owns 19,964 shares of the technology company’s stock valued at $577,000 after acquiring an additional 684 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Jabil Circuit by 29.0% during the first quarter. Schroder Investment Management Group now owns 60,061 shares of the technology company’s stock valued at $1,745,000 after acquiring an additional 13,511 shares during the last quarter. United Services Automobile Association bought a new position in shares of Jabil Circuit during the first quarter valued at $637,000. Finally, OppenheimerFunds Inc. raised its stake in shares of Jabil Circuit by 1.5% during the first quarter. OppenheimerFunds Inc. now owns 161,295 shares of the technology company’s stock valued at $4,665,000 after acquiring an additional 2,348 shares during the last quarter. 93.05% of the stock is owned by hedge funds and other institutional investors.

Jabil Circuit Company Profile

Jabil Inc, formerly 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.

Analyst Recommendations for Jabil Circuit (NYSE:JBL)

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