New Buy Rating for Jabil (JBL), the Technology Giant
In a report released yesterday, Mark Delaney from Goldman Sachs maintained a Buy rating on Jabil, with a price target of $308.00. The company’s shares closed yesterday at $305.37.
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Delaney covers the Consumer Cyclical sector, focusing on stocks such as General Motors, Tesla, and Ford Motor. According to TipRanks, Delaney has an average return of 22.7% and a 64.09% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Jabil with a $293.88 average price target.
Based on Jabil’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $8.28 billion and a net profit of $223 million. In comparison, last year the company earned a revenue of $6.73 billion and had a net profit of $117 million
Based on the recent corporate insider activity of 130 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of JBL in relation to earlier this year. Earlier this month, STEVEN D BORGES, the EVP, Global Business Units of JBL sold 7,000.00 shares for a total of $2,065,000.00.
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