Contract electronics manufacturer Jabil (NYSE: JBL) was a top performer on the stock market in 2023 with gains of 87% -- well ahead of the S&P 500 index's jump of 24%. And the stock remains incredibly cheap even after its impressive rally last year.

Shares of Jabil, which provides contract manufacturing services to multiple industries ranging from automotive to healthcare to cloud computing, are trading at just 0.5 times sales right now. What's more, its trailing price-to-earnings (P/E) ratio is just 21, in line with the S&P 500 index's average P/E multiple. The forward P/E multiple, meanwhile, stands at a cheaper 11.

So, should investors start buying Jabil stock hand over fist considering its attractive valuation?

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Source Fool.com