Jabil Circuit Dives After 2Q Report

The performance led at least four analysts to downgrade the stock.

Jabil shares recently traded lower by $1.74, or 15.3 percent, at $9.64. Earlier in the session, the stock hit a new 52-week low of $9.25.

JPMorgan analyst Mark Moskowitz slashed his rating to "Underweight" from "Overweight," saying in a note to clients "it is increasingly apparent that Jabil cannot overcome macrodriven weakness across most of its end markets in the near- to mid-term."

"We remain concerned with the company's overall strategy in the consumer sector, where it is losing money," Thomas Weisel analyst Matthew Sheerin wrote in a research note. "In addition, given limited visibility into demand and Jabil's recent guidance track record, it is hard to maintain confidence in the company's expectations for the August quarter, even though management commented ... that it believes the May quarter could mark the bottom."

Sheerin downgraded Jabil to "Market Weight" from "Overweight."

Elsewhere, Credit Suisse downgraded the company to "Neutral" from "Outperform," and Longbow Research lowered its rating to "Neutral" from "Buy."