Today, Jacobs Engineering Group Inc. (JEC) Upgrade at TheStreet

Today, Jacobs Engineering Group Inc. (JEC) Upgrade at TheStreet

TheStreet upgraded shares of Jacobs Engineering Group Inc. (NYSE:JEC) from a hold rating to a buy rating in a report issued on Monday morning.

JEC has been the subject of a number of other research reports. Zacks Investment Research lowered Jacobs Engineering Group from a hold rating to a sell rating in a research report on Tuesday, October 18th. MKM Partners set a $49.00 target price on Jacobs Engineering Group and gave the stock a hold rating in a report on Thursday, September 15th. Argus reissued a buy rating and issued a $60.00 target price (up previously from $58.00) on shares of Jacobs Engineering Group in a report on Friday, August 19th. Jefferies Group reissued a buy rating and issued a $54.00 target price on shares of Jacobs Engineering Group in a report on Wednesday, August 10th. Finally, DA Davidson lowered Jacobs Engineering Group from a buy rating to a neutral rating and lifted their target price for the stock from $60.00 to $62.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Jacobs Engineering Group presently has an average rating of Hold and an average target price of $50.84.

Jacobs Engineering Group (NYSE:JEC) opened at 61.69 on Monday. The stock’s 50 day moving average price is $52.98 and its 200-day moving average price is $52.02. Jacobs Engineering Group has a 12 month low of $34.76 and a 12 month high of $61.76. The stock has a market cap of $7.49 billion, a PE ratio of 35.76 and a beta of 1.61.

Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. Jacobs Engineering Group had a return on equity of 8.43% and a net margin of 1.92%. The company earned $2.64 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was down 15.3% on a year-over-year basis. Analysts anticipate that Jacobs Engineering Group will post $3.20 EPS for the current fiscal year.

In other news, Director Noel G. Watson sold 66,668 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $51.71, for a total value of $3,447,402.28. Following the transaction, the director now directly owns 736,669 shares in the company, valued at $38,093,153.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terence D. Hagen sold 18,639 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $54.73, for a total value of $1,020,112.47. Following the completion of the transaction, the insider now owns 27,022 shares in the company, valued at $1,478,914.06. The disclosure for this sale can be found here. 3.16% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Boston Partners increased its position in shares of Jacobs Engineering Group by 5,194.5% in the second quarter. Boston Partners now owns 3,445,961 shares of the company’s stock valued at $171,643,000 after buying an additional 3,380,875 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Jacobs Engineering Group during the first quarter valued at approximately $96,945,000. Bank of Montreal Can acquired a new position in shares of Jacobs Engineering Group during the second quarter valued at approximately $43,824,000. JPMorgan Chase & Co. increased its position in shares of Jacobs Engineering Group by 185.6% in the second quarter. JPMorgan Chase & Co. now owns 798,748 shares of the company’s stock valued at $39,785,000 after buying an additional 519,040 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Jacobs Engineering Group by 22.9% in the second quarter. Victory Capital Management Inc. now owns 2,048,316 shares of the company’s stock valued at $102,027,000 after buying an additional 381,071 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

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