Jabil Circuit Gets a Hold Rating from RBC Capital

By Carrie Williams

In a report released today, Amit Daryanani from RBC Capital reiterated a Hold rating on Jabil Circuit (NYSE: JBL), with a price target of $31. The company’s shares closed yesterday at $30.63, close to its 52-week high of $31.70.

According to TipRanks.com, Daryanani is a top 25 analyst with an average return of 26.7% and a 87.3% success rate. Daryanani covers the Technology sector, focusing on stocks such as Brocade Communication Systems Inc, Hewlett Packard Enterprise, and Benchmark Electronics.

Currently, the analyst consensus on Jabil Circuit is Moderate Buy and the average price target is $33.25, representing an 8.6% upside.

In a report released today, Stifel Nicolaus also reiterated a Hold rating on the stock with a $30 price target.

Based on Jabil Circuit’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $4.49 billion and GAAP net loss of $25.28 million. In comparison, last year the company earned revenue of $4.31 billion and had a net profit of $5.21 million.

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Jabil, Inc. engages in provision of worldwide electronic manufacturing services and solutions. The company provides electronics design, production, product management and repair services to companies in the aerospace, automotive, computing, consumer, defense, industrial, instrumentation, medical, networking, peripherals, storage & telecommunications industries. It operates its business through the following business segments: Electronics Manufacturing Services and Diversified Manufacturing Services. The Diversified Manufacturing Services segment is comprised of dedicated resources to manage higher complexity global products in regulated and other industries and introduce materials and process technologies including design and aftermarket services to global customers. The Electronics Manufacturing Services segment focuses around leveraging IT, supply chain design and engineering, technologies largely centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a broad range of end markets. Jabil was founded by William E. Morean and James Golden in 1966 and is headquartered in St. Petersburg, FL.