Analysts at Goldman Sachs Group Inc. upgraded shares of Jabil Circuit Inc. (NYSE: JBL) from Sell to Neutral today. The company currently has a rating of Neutral on the shares. As a means of comparison, a number of other analysts have spoken on the stock recently, and Jabil Circuit Inc. has secured a consensus one-year price target of $21.27, lower than the opening price of $23.81, a difference of 9.18 percent. Jabil Circuit Inc. stock has a 52-week high of $26.00. Share prices sometimes get a boost to the upside when analysts upgrade a stock.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Jabil Circuit Inc. (NYSE: JBL) shares last traded at $23.16, a spike of $0.02 over the previous closing price. Opening at $23.81, they varied from $23.16 and $23.81 throughout the day.
Jabil Circuit Inc. (NYSE: JBL) now has a market cap of 4.43B.
2,447,656 shares crossed the trading desk yesterday, 80 percent higher than the average, out of a total float 173,662,000. Considerable volume aggregation by institutional investors may be in the near future as the combination of substantial expansions in trading volume and price growth can be determining components.
However, just a day of high volume buy side trading is not enough to affirm a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are considering.
Traders are able to make make the best trades when they follow the activity of professional investors.
With that in mind, Jabil Circuit Inc. (NYSE: JBL) now has a 50-day MA of $21.17 and 200-day MA of $19.46. It has traded in a 52-week range between $16.78 – 26.00 and today’s last price is 0.11% lower than the 52 week high of $26.00.
Earnings growth is a crucial factor to consider when investing in stocks and investors look for companies that have raised their earnings by at least 25% for 3 consecutive years.
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