Jabil Circuit (JBL) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 23

Jabil Circuit (JBL) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 23 from a previous price target of $20 . RBC Capital Mkts advised their investors in a research report released on Sep 22, 2016.

Many Wall Street Analysts have commented on Jabil Circuit. Company shares were Upgraded by UBS on Sep 21, 2016 to ” Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $20 .Jabil Circuit was Upgraded by Goldman to ” Neutral” on Sep 20, 2016. Company shares were Upgraded by Raymond James on Jul 15, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .

On the company’s financial health, Jabil Circuit reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Sep 21, 2016. Analyst had a consensus of $0.25. The company had revenue of $4400.00 million for the quarter, compared to analysts expectations of $4264.60 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Jabil Circuit opened for trading at $23.81 and hit $23.81 on the upside on Tuesday, eventually ending the session at $23.16, with a gain of 0.09% or 0.02 points. The heightened volatility saw the trading volume jump to 24,47,656 shares. Company has a market cap of $4,426 M.

In a different news, on Sep 20, 2016, William E Peters (President) sold 20,000 shares at $23.25 per share price. According to the SEC, on Sep 20, 2016, Michael J Loparco (EVP, CEO, Engineered Solutions) sold 2,000 shares at $22.90 per share price. On Sep 20, 2016, Mark T Mondello (Chief Executive Officer) sold 10,000 shares at $23.00 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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