JBL investors were likely spooked this afternoon by Barrons's report: "Contract electronics manufacturer Jabil posted modestly better-than-expected results for the company's latest quarter, along with guidance that was slightly ahead of Street estimates. But it seems clear investors were hoping for a more decisive beat in the period." For more coverage, read the full article here. On the back of this news, Jabil sank -4.71% to a price of $76.55. Are the markets overreacting?
Jabil Inc. provides global manufacturing solutions and services. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 27.16 and an average price to book (P/B) ratio of 6.23. In contrast, Jabil has a trailing 12 month P/E ratio of 11.41 and a P/B ratio of 3.976.
Jabil has moved 31.87% over the last year compared to -11.78% for the S&P 500 -- a difference of 43.65%. Jabil has a 52 week high of $85.7 and a 52 week low of $48.63. At today's price of $76.55 per share, Jabil is -14.95% away from its target price of $90.0, and on average, analysts give the stock a rating of buy. 2% of the company's shares are linked to short positions, and 92% of the shares are owned by institutional investors.