Jacobs Engineering Group Inc. (NYSE:JEC) had its price target increased by Credit Suisse Group AG from $60.00 to $66.00 in a research note published on Wednesday morning. The firm currently has an outperform rating on the stock.
JEC has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Jacobs Engineering Group from a hold rating to a sell rating in a report on Tuesday, October 18th. MKM Partners set a $49.00 price objective on shares of Jacobs Engineering Group and gave the company a hold rating in a report on Thursday, September 15th. Argus reiterated a buy rating and issued a $60.00 price objective (up from $58.00) on shares of Jacobs Engineering Group in a report on Friday, August 19th. Jefferies Group reiterated a buy rating and issued a $54.00 price objective on shares of Jacobs Engineering Group in a report on Wednesday, August 10th. Finally, DA Davidson downgraded shares of Jacobs Engineering Group from a buy rating to a neutral rating and lifted their price objective for the company 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 given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $51.41.
Jacobs Engineering Group (NYSE:JEC) opened at 62.17 on Wednesday. The firm has a market cap of $7.55 billion, a PE ratio of 36.04 and a beta of 1.61. Jacobs Engineering Group has a 52 week low of $34.76 and a 52 week high of $62.27. The stock has a 50 day moving average of $53.28 and a 200-day moving average of $52.11.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. Jacobs Engineering Group had a net margin of 1.92% and a return on equity of 8.48%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the company earned $0.80 earnings per share. The firm’s revenue was down 15.3% compared to the same quarter last year. Analysts expect that Jacobs Engineering Group will post $3.20 earnings per share for the current 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 shares were sold at an average price of $51.71, for a total value of $3,447,402.28. Following the completion of the sale, the director now owns 736,669 shares of the company’s stock, valued at $38,093,153.99. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.16% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of JEC. Itau Unibanco Holding S.A. bought a new position in Jacobs Engineering Group during the third quarter worth approximately $172,000. ETRADE Capital Management LLC increased its position in Jacobs Engineering Group by 46.8% in the third quarter. ETRADE Capital Management LLC now owns 16,047 shares of the company’s stock worth $830,000 after buying an additional 5,115 shares during the period. D.A. Davidson & CO. increased its position in Jacobs Engineering Group by 81.5% in the third quarter. D.A. Davidson & CO. now owns 3,340 shares of the company’s stock worth $171,000 after buying an additional 1,500 shares during the period. Piedmont Investment Advisors LLC bought a new position in Jacobs Engineering Group during the third quarter worth approximately $2,113,000. Finally, Colony Group LLC bought a new position in Jacobs Engineering Group during the third quarter worth approximately $7,686,000. 86.63% of the stock is owned by institutional investors and hedge funds.
Jacobs Engineering Group Company Profile