Jabil Inc. (NYSE:JBL) Sees Large Drop in Short Interest

Jabil Inc. (NYSE:JBL) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 4,530,000 shares, a decline of 15.2% from the July 15th total of 5,340,000 shares. Approximately 4.2% of the shares of the company are sold short. Based on an average trading volume of 1,620,000 shares, the short-interest ratio is currently 2.8 days.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Bank of America reduced their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 21st. UBS Group dropped their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Barclays cut their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.63.

Insider Buying and Selling at Jabil

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the transaction, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the transaction, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jabil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. purchased a new stake in shares of Jabil during the first quarter worth $25,000. Activest Wealth Management purchased a new stake in shares of Jabil during the 1st quarter worth about $28,000. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil during the 2nd quarter valued at about $28,000. Alaska Permanent Fund Corp acquired a new stake in shares of Jabil during the 4th quarter valued at about $29,000. Finally, ORG Partners LLC bought a new stake in shares of Jabil in the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Stock Down 0.7 %

NYSE:JBL traded down $0.73 during trading hours on Friday, hitting $106.35. 794,991 shares of the stock traded hands, compared to its average volume of 1,466,096. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 1.95 and a beta of 1.27. The firm has a 50 day moving average price of $111.10 and a 200 day moving average price of $123.26. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. Jabil has a fifty-two week low of $95.85 and a fifty-two week high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same period in the prior year, the business earned $1.85 EPS. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. Equities research analysts anticipate that Jabil will post 7.86 earnings per share for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Thursday, August 15th. Jabil’s payout ratio is presently 2.91%.

About Jabil

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).