Jabil Circuit (JBL) is Upgraded by Raymond James to Strong Buy, Raises Price Target to $ 26

Jabil Circuit (JBL) was Upgraded by Raymond James to ” Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 26 from a previous price target of $21 . Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Jul 15, 2016.

Many Wall Street Analysts have commented on Jabil Circuit. Shares were Reiterated by RBC Capital Mkts on Jun 16, 2016 to “Sector Perform” and Lowered the Price Target to $ 20 from a previous price target of $21 .Shares were Reiterated by Deutsche Bank on Jun 16, 2016 to “Hold” and Lowered the Price Target to $ 18 from a previous price target of $21 .Shares were Downgraded by Goldman on Jun 7, 2016 to ” Sell” and Lowered the Price Target to $ 17 from a previous price target of $19 .

On the company’s financial health, Jabil Circuit reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 15, 2016. Analyst had a consensus of $0.15. The company had revenue of $4310.80 million for the quarter, compared to analysts expectations of $4180.45 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.

Jabil Circuit opened for trading at $19.42 and hit $19.44 on the upside on Wednesday, eventually ending the session at $19.32, with a gain of 0.31% or 0.06 points. The heightened volatility saw the trading volume jump to 23,74,573 shares. Company has a market cap of $3,692 M.

In a different news, on Mar 4, 2016, Sergio Cadavid (SVP, Treasurer) sold 3,098 shares at $21.50 per share price. According to the SEC, on Dec 7, 2015, Michael J Loparco (EVP, CEO High Velocity, I&E) sold 2,500 shares at $25.95 per share price. On Dec 2, 2015, Thomas A Sansone (director) sold 25,000 shares at $25.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Jabil Circuit Inc. provides electronic manufacturing services and solutions. The Company provides electronic design production and product management services to companies in the aerospace automotive computing defense digital home energy healthcare industrial instrumentation lifestyles mobility mold networking packaging peripherals storage telecommunications and wearable technology industries. The Company’s operating segments include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The EMS segment is focused around leveraging information technology (IT) supply chain design and engineering technologies centered on core electronics. The DMS segment is focused on providing engineering solutions heavy participation in consumer markets access to higher growth markets and a focus on material sciences and technologies.

Jabil Circuit

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