Analysts at Goldman Sachs Group Inc. upgraded shares of Jabil Circuit Inc. (NYSE: JBL) from Sell to Neutral today.With a rating of Neutral on the stock, Jabil Circuit Inc. has a 52-week high of $26.00. As a means of comparison, a number of other analysts have issued reports on the stock in recent days, 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 9.12 percent. Share prices sometimes get a spike to the upside when analysts upgrade a stock.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the index had been up by as many as 37 points and traded with a 58-point range
Yesterday Jabil Circuit Inc. (NYSE: JBL) shares last traded at $23.33, which represents an increase of $0.19 over the previous closing price. Opening at $23.81, they ranged from $23.26 and $23.81 throughout the day.
Jabil Circuit Inc. (NYSE: JBL) now has a market cap of 4.46B.
The stock’s average daily volume is 2,112,060 shares out of a total float 173,662,000 and some 506,422 shares traded hands yesterday, 31 percent lower than normal. Swing traders often use upticks in trading volume to identify large volume accumulation or circulation by institutional investors, so look for trading volume to pick up in the coming days.
However, one day of heavy buy side trading is not enough to affirm a trend. So market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts that investigate thousands of stocks, so it is good validation to see them buying a stock you’re researching.
Traders are able to make make more impactful judgments on trades when they track the activity of professional investors.
Trades for Jabil Circuit Inc. (NYSE: JBL) have ranged from $16.78 – 26.00, and the stock now has a 50-day MA of $21.09 and 200-day MA of $19.45. Today’s last price is 0.10% lower than the 52 week high of $26.00.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings at least 25% or more over a 3 year period.
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