Jacobs Engineering Group Inc. (NYSE:JEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Jacobs’ third-quarter fiscal 2017 earnings of 79 cents per share came in line with the Zacks Consensus Estimate. The company also recently inked a $2.85-billion deal to acquire CH2M, in a bid to become a $15-billion global solutions provider, moving ahead. Jacobs noted that its restructuring initiatives would likely generate greater cost synergies in the quarters ahead. The company is also poised to grow on the back of lucrative business contracts and is well focused in maximizing shareholders’ value. However, over the last one year, the stock underperformed and looks overvalued compared to the industry. Notably, headwinds such as stiff industry rivalry, challenging energy market conditions, weaker field services business or reduced public spending in the UK might hurt near-term results.”

A number of other equities analysts have also commented on the stock. BidaskClub lowered shares of Jacobs Engineering Group from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Credit Suisse Group restated a “buy” rating and issued a $69.00 price objective on shares of Jacobs Engineering Group in a research note on Friday, April 21st. Robert W. Baird restated a “neutral” rating and issued a $64.00 price objective (up previously from $62.00) on shares of Jacobs Engineering Group in a research note on Friday, May 12th. Citadel Securities downgraded shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $62.00 to $66.00 in a research note on Tuesday. Finally, Citigroup Inc. downgraded shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Jacobs Engineering Group has a consensus rating of “Hold” and a consensus target price of $61.17.

Jacobs Engineering Group (JEC) opened at 54.22 on Thursday. The firm’s 50-day moving average is $53.50 and its 200-day moving average is $54.87. Jacobs Engineering Group has a 1-year low of $49.15 and a 1-year high of $63.42. The company has a market capitalization of $6.52 billion, a P/E ratio of 28.84 and a beta of 1.52.

Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.79 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.79. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities research analysts predict that Jacobs Engineering Group will post $3.13 EPS for the current year.

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Large investors have recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in Jacobs Engineering Group by 33.3% in the fourth quarter. Macquarie Group Ltd. now owns 12,400 shares of the construction company’s stock worth $707,000 after buying an additional 3,100 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Jacobs Engineering Group by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 104,370 shares of the construction company’s stock worth $5,770,000 after buying an additional 3,469 shares in the last quarter. Creative Planning increased its stake in Jacobs Engineering Group by 96.2% in the first quarter. Creative Planning now owns 17,888 shares of the construction company’s stock worth $989,000 after buying an additional 8,769 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Jacobs Engineering Group by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 38,501 shares of the construction company’s stock worth $2,128,000 after buying an additional 400 shares in the last quarter. Finally, Alpha Windward LLC increased its stake in Jacobs Engineering Group by 4.2% in the first quarter. Alpha Windward LLC now owns 8,974 shares of the construction company’s stock worth $496,000 after buying an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 87.41% of the company’s stock.

About Jacobs Engineering Group

Jacobs Engineering Group Inc is a technical professional services company. The Company provides a range of technical, professional and construction services to industrial, commercial and governmental clients. The Company’s services include Project Services; Process, Scientific, and Systems Consulting Services; Construction Services, and Operations and Maintenance Services.

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