Jabil (NYSE:JBL) earns Citigroup’s “Top Pick” rating

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Jabil (NYSE:JBL – Get a Note)Citigroup analysts reiterated the “top pick” rating of Citigroup stock in a research report released Thursday to clients and investors, reports The Fly. They currently have a price target of $90.00 on shares of the technology company. Citigroup’s target price would suggest a potential upside of 47.03% from the stock’s previous close.

Other analysts have also recently published research reports on the stock. Goldman Sachs Group upgraded Jabil shares from a ‘neutral’ rating to a ‘buy’ rating and raised its price target for the company from $63.00 to $75.00 in a Thursday, Dec. 9 report . StockNews.com downgraded Jabil’s shares from a “strong buy” rating to a “buy” rating in a report on Friday, February 25. Bank of America raised its price target on Jabil shares from $73.00 to $77.00 and gave the company a “buy” rating in a Friday, Dec. 17 report. Finally, Raymond James raised his price target on Jabil shares from $70.00 to $80.00 and gave the company a “Strong Buy” rating in a Friday, Dec. 17 report. Six equity research analysts gave the stock a buy rating and three gave the stock a strong buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $74.38.

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Jabil shares opened at $61.21 on Thursday. The company has a market capitalization of $8.78 billion, a PE ratio of 12.49, a P/E/G ratio of 0.81 and a beta of 1.41. Jabil has a 12-month low of $47.92 and a 12-month high of $72.11. The company’s 50-day moving average price is $61.22 and its 200-day moving average price is $62.39. The company has a current ratio of 0.99, a quick ratio of 0.60 and a debt ratio of 1.08.

Jabil (NYSE:JBL – Get Rating) last released its quarterly results on Wednesday, March 16. The technology company reported earnings per share of $1.68 for the quarter, beating the Zacks consensus estimate of $1.47 by $0.21. The company posted revenue of $7.55 billion for the quarter, versus analyst estimates of $7.44 billion. Jabil had a net margin of 2.46% and a return on equity of 34.35%. Jabil’s quarterly revenue increased 10.6% compared to the same quarter last year. During the same period last year, the company posted EPS of $0.99. On average, sell-side analysts expect Jabil to post an EPS of 5.7 for the current fiscal year.

In related news, Executive Vice President Bruce Allan Johnson sold 11,000 shares of Jabil in a trade that took place on Tuesday, January 18. The shares were sold at an average price of $69.01, for a total value of $759,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Thomas A. Sansone sold 20,000 shares of Jabil in a trade that took place on Wednesday, December 22. The shares were sold at an average price of $67.75, for a total transaction of $1,355,000.00. The disclosure of this sale can be found here. Insiders sold a total of 96,505 shares of the company worth $6,583,154 in the past 90 days. Insiders own 2.59% of the shares of the company.

A number of hedge funds have recently changed their holdings in the company. BlackRock Inc. increased its position in Jabil by 1.1% in the fourth quarter. BlackRock Inc. now owns 12,313,344 shares of the technology company valued at $866,242,000 after purchasing an additional 138,430 shares during the period. State Street Corp increased its position in Jabil by 0.3% in the fourth quarter. State Street Corp now owns 4,327,142 shares of the technology company valued at $304,414,000 after purchasing an additional 13,972 shares during the period. Geode Capital Management LLC increased its position in Jabil by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 1,861,471 shares of the technology company valued at $130,970,000 after purchasing an additional 76,657 shares during the period. Boston Partners increased its position in Jabil by 3.5% in the third quarter. Boston Partners now owns 1,724,803 shares of the technology company valued at $100,710,000 after purchasing an additional 58,015 shares during the period. Finally, Bank of New York Mellon Corp strengthened its position in Jabil by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 1,609,163 shares of the technology company valued at $93,927,000 after purchasing an additional 55,690 shares during the period. 88.15% of the shares are held by institutional investors.

Jabil Company Profile (Get an evaluation)

Jabil, Inc is engaged in the provision of electronics manufacturing services and solutions. It provides design, production, product management and repair services for electronic products to companies in the automotive and transportation, capital goods, consumer lifestyle and wearable technologies, computing and storage, defense and aerospace, digital home, health, industry and energy, mobility, networks. and the telecommunications, packaging, point-of-sale and printing sectors.

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