On September 30, 2023, investment research firm Barclays raised its target price for Jabil (NYSE:JBL) from $134.00 to $144.00, indicating a potential upside of 15.25% from the company’s current price. This update was shared in a research note to investors on Friday, according to FlyOnTheWall.
JBL stock opened at $124.95 on Friday, reflecting the positive sentiment surrounding the company’s prospects. As for its financial health, Jabil boasts a current ratio of 1.06 and a quick ratio of 0.59, indicating its ability to meet short-term obligations efficiently. Additionally, the company has a debt-to-equity ratio of 1.05.
With a market capitalization of $16.35 billion and a P/E ratio of 17.60, Jabil remains an attractive option for investors seeking potential returns. The company also has a favorable PEG ratio of 1.01 and a beta of 1.46, indicating its relatively stable performance compared to the broader market.
In terms of historical stock movements, Jabil has displayed noteworthy trends over the past year. The business experienced a twelve-month low of $55.36 and achieved a twelve-month high of $126.01, signaling significant growth during that period.
Looking at recent activity among institutional investors, several hedge funds have either increased or decreased their stakes in JBL stock in recent months. For example, ST Germain D J Co. Inc., Fiduciary Alliance LLC, Bessemer Group Inc., Altshuler Shaham Ltd., and Amundi are among those who have acquired shares in varying amounts.
On September 28th, Jabil released its quarterly earnings results which surpassed analysts’ expectations with earnings per share (EPS) of $2.45 compared to an estimate of $2.32 per share—a positive surprise of $0.13. However, the company reported revenue of $8.46 billion for the quarter, falling slightly below analysts’ anticipated figure of $8.54 billion. Despite this, Jabil demonstrated a net margin of 2.77% and a return on equity of 39.61%. Notably, Jabil’s quarterly revenue decreased by 6.3% compared to the corresponding period last year.
Looking ahead, equities analysts project that Jabil will generate an EPS of 7.94 for the current year, further solidifying its standing as a promising investment option.
As investors digest these recent developments and research findings related to Jabil, it is imperative to conduct thorough analysis and seek relevant professional advice before making any investment decisions based on this information.
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Jabil Receives Spotlight with Mixed Analyst Ratings and Institutional Investor Activity
On September 30, 2023, Jabil, a technology company, found itself in the spotlight as several research firms issued reports on its stocks. StockNews.com initiated coverage on Jabil and assigned a “hold” rating to the stock. Bank of America also chimed in, increasing their price target from $126.00 to $130.00 and giving the stock a “buy” rating. Credit Suisse Group followed suit, raising their price target from $110.00 to $125.00. VNET Group maintained their rating on Jabil, while Stifel Nicolaus further bolstered investor confidence by raising their price target from $115.00 to $120.00 and labeling Jabil as a “buy.”
Analysts have expressed varying opinions on Jabil’s performance, with two analysts issuing a hold rating, six suggesting it as a buy, and one designating it as a strong buy. Bloomberg’s consensus rating for the stock is reported as “Moderate Buy,” with an average target price of $110.56.
It is worth noting that several hedge funds and institutional investors have recently made adjustments to their stakes in Jabil’s stock. ST Germain D J Co Inc acquired new shares worth approximately $26,000 during the fourth quarter of last year. Fiduciary Alliance LLC also purchased new shares during Q2 2023 around the same value.
Bessemer Group Inc., on the other hand, significantly increased its holdings in Jabil by 87.2% during Q2 2023 and now owns 234 shares valued at around $26,000.
Altshuler Shaham Ltd entered the scene during Q1 2023 with the acquisition of additional Jabil shares worth $31,000.
Additionally, Amundi boosted its holdings in Jabil by an impressive 419.8% during Q4 2022 and currently owns 421 shares valued at $32,000.
These actions conducted by various hedge funds and institutional investors have further solidified Jabil’s position in the market. It is notable that these institutional investors collectively own 92.88% of the company’s stock.
In a move to enhance confidence in its value, Jabil announced that its Board of Directors has authorized a share buyback program on September 28th. The program allows the company to repurchase shares worth $2.50 billion, representing approximately 15.3% of its outstanding shares through open market purchases. Share buyback programs are often interpreted as an indication that a company’s board of directors believes its stock is undervalued.
In other news related to Jabil, Director Anousheh Ansari sold 3,000 shares of the company’s stock on July 5th at an average price of $108.61, making the total transaction amount to $325,830. As per disclosures filed with the Securities & Exchange Commission, Ansari now possesses 38,000 shares of Jabil valued at $4,127,180. Corporate insiders like Ansari currently own approximately 2.75% of Jabil’s stock.
Overall, Jabil has garnered attention from various research firms and witnessed activity from key players in the market. With analysts sharing differing perspectives on its prospects and institutional investors bolstering their positions, investor interest in Jabil remains piqued as we move towards October 2023.
