Today: Jabil Circuit Inc. (JBL) Upgrade to “Buy” at Standpoint Research

Today: Jabil Circuit Inc. (JBL) Upgrade to “Buy” at Standpoint Research

Jabil Circuit Inc. (NYSE:JBL) was upgraded by equities researchers at Standpoint Research from a “hold” rating to a “buy” rating in a report issued on Monday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, September 28th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Jabil Circuit in a report on Friday, September 30th. Deutsche Bank AG boosted their target price on Jabil Circuit from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, September 22nd. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Jabil Circuit in a research note on Tuesday, September 20th. Finally, Royal Bank Of Canada boosted their target price on Jabil Circuit from $20.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 22nd. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.93.

Shares of Jabil Circuit (NYSE:JBL) opened at 21.62 on Monday. The firm has a 50-day moving average price of $21.34 and a 200-day moving average price of $20.34. Jabil Circuit has a 1-year low of $16.78 and a 1-year high of $26.00. The stock has a market capitalization of $4.01 billion, a PE ratio of 16.38 and a beta of 0.94.

Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, September 21st. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. Jabil Circuit had a return on equity of 12.22% and a net margin of 1.38%. The company had revenue of $4.40 billion for the quarter. During the same quarter in the prior year, the firm earned $0.53 EPS. Jabil Circuit’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts forecast that Jabil Circuit will post $2.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.48%. The ex-dividend date is Thursday, November 10th. Jabil Circuit’s dividend payout ratio is presently 24.24%.

In other Jabil Circuit news, President William E. Peters sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total transaction of $465,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Loparco sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $21.90, for a total value of $43,800.00. Following the sale, the chief executive officer now directly owns 241,092 shares of the company’s stock, valued at $5,279,914.80. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in Jabil Circuit by 63.7% in the first quarter. Envestnet Asset Management Inc. now owns 41,482 shares of the company’s stock valued at $799,000 after buying an additional 16,146 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Jabil Circuit by 3.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 174,441 shares of the company’s stock valued at $3,361,000 after buying an additional 5,972 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Jabil Circuit during the first quarter valued at approximately $692,000. Origin Asset Management LLP increased its stake in Jabil Circuit by 19.0% in the first quarter. Origin Asset Management LLP now owns 307,924 shares of the company’s stock valued at $5,934,000 after buying an additional 49,187 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Jabil Circuit by 10.3% in the second quarter. BNP Paribas Arbitrage SA now owns 338,303 shares of the company’s stock valued at $6,248,000 after buying an additional 31,464 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

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