Jacobs Engineering Group (JEC) Stock Rating Upgraded by Zacks Investment Research
Jacobs Engineering Group (NYSE:JEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $76.00 price objective on the construction company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.54% from the company’s current price.
According to Zacks, “Shares of Jacobs have outperformed the industry over the last three months. The company is poised to grow on the back of robust acquisitions and strategic restructuring moves. For instance, the company has acquired CH2M, in a bid to become a $15-billion global solutions provider, moving ahead. Moreover, we perceive that increased infrastructure spending in the United States and strong demand for major emerging economies like China would likely prove beneficial to the company going forward. The company is also poised to grow on the back of lucrative business contracts and is well focused in maximizing shareholders’ value. Over the last 60 days, Zacks Consensus Estimate for the stock has moved north for both fiscal 2018 and 2019.”
A number of other equities analysts also recently issued reports on the company. Citigroup set a $64.00 price target on Jacobs Engineering Group and gave the company a “hold” rating in a research note on Friday, October 27th. Argus restated a “buy” rating and issued a $73.00 target price on shares of Jacobs Engineering Group in a research note on Monday, November 27th. They noted that the move was a valuation call. Barclays initiated coverage on Jacobs Engineering Group in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $75.00 target price on the stock. Robert W. Baird restated a “hold” rating and issued a $69.00 target price on shares of Jacobs Engineering Group in a research note on Friday, November 24th. Finally, ValuEngine upgraded Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Jacobs Engineering Group currently has a consensus rating of “Hold” and an average target price of $69.10.
Jacobs Engineering Group (NYSE JEC) traded up $0.35 during mid-day trading on Monday, reaching $68.14. The company’s stock had a trading volume of 1,059,000 shares, compared to its average volume of 1,205,700. The firm has a market cap of $8,190.00, a P/E ratio of 28.16, a P/E/G ratio of 1.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 1.56. Jacobs Engineering Group has a fifty-two week low of $49.31 and a fifty-two week high of $69.35.
Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings results on Tuesday, November 21st. The construction company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.16. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.58 billion. Jacobs Engineering Group had a return on equity of 9.18% and a net margin of 2.93%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. equities research analysts expect that Jacobs Engineering Group will post 3.53 earnings per share for the current year.
In other news, Director Joseph R. Bronson sold 6,125 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total value of $385,936.25. Following the transaction, the director now owns 30,496 shares in the company, valued at approximately $1,921,552.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Whittier Trust Co. raised its holdings in shares of Jacobs Engineering Group by 141.2% in the 3rd quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock worth $119,000 after purchasing an additional 1,200 shares during the period. Advisor Group Inc. raised its holdings in shares of Jacobs Engineering Group by 18.8% in the 2nd quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock worth $117,000 after purchasing an additional 339 shares during the period. Jarislowsky Fraser Ltd bought a new stake in shares of Jacobs Engineering Group in the 3rd quarter worth approximately $186,000. Palisade Capital Management LLC NJ bought a new stake in shares of Jacobs Engineering Group in the 3rd quarter worth approximately $206,000. Finally, Bridgewater Associates LP bought a new stake in shares of Jacobs Engineering Group in the 2nd quarter worth approximately $207,000. 84.57% of the stock is currently owned by institutional investors.
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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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