Insider Selling: Jabil Circuit, Inc. (JBL) CEO Sells 30,000 Shares of Stock
Jabil Circuit, Inc. (NYSE:JBL) CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $29.02, for a total value of $870,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Jabil Circuit, Inc. (NYSE JBL) traded up 0.91% on Wednesday, reaching $29.82. 2,771,485 shares of the company were exchanged. Jabil Circuit, Inc. has a 52 week low of $20.32 and a 52 week high of $31.70. The firm’s 50 day moving average price is $30.13 and its 200 day moving average price is $29.73. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 45.88 and a beta of 0.59.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the business posted $0.28 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts anticipate that Jabil Circuit, Inc. will post $2.59 EPS for the current year.
Jabil Circuit announced that its board has authorized a stock repurchase program on Thursday, July 20th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Jabil Circuit by 10,288.7% during the 1st quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock valued at $442,528,000 after purchasing an additional 15,154,502 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Jabil Circuit by 1.0% in the second quarter. Vanguard Group Inc. now owns 13,967,548 shares of the technology company’s stock worth $407,712,000 after buying an additional 134,408 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Jabil Circuit by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,951,206 shares of the technology company’s stock worth $173,715,000 after buying an additional 309,380 shares during the period. AJO LP lifted its stake in shares of Jabil Circuit by 7,383.3% during the second quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock worth $102,533,000 after buying an additional 3,465,668 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Jabil Circuit by 11.8% during the second quarter. LSV Asset Management now owns 3,071,682 shares of the technology company’s stock worth $89,662,000 after buying an additional 323,845 shares during the period. 93.05% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on JBL shares. ValuEngine downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a report on Monday. Zacks Investment Research upgraded Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a report on Monday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 price target on shares of Jabil Circuit in a research report on Thursday, September 28th. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $40.00 price target on shares of Jabil Circuit in a research report on Thursday, September 28th. Finally, Citigroup Inc. reiterated a “sell” rating and issued a $28.00 price target on shares of Jabil Circuit in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.50.
About Jabil Circuit
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.
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