Jabil saw an improvement in its IBD SmartSelect Composite Rating Monday, from 94 to 96.
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The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Jabil is not currently near a proper buy zone. Look for the stock to form and break out of a new base.
The stock earns a 96 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 96% of all stocks.
Its Accumulation/Distribution Rating of D shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.
The company reported a 43% increase in earnings for Q4. That means it's now posted three straight quarters of rising EPS growth. Top line growth climbed 18%, up from 16% in the prior report. That marks five quarters of increasing revenue gains.
Jabil earns the No. 4 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica is the No. 1-ranked stock within the group.
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