Jacobs Engineering Group Inc. (NYSE:JEC) had its price objective increased by Deutsche Bank AG from $50.00 to $60.00 in a research note published on Wednesday morning. Deutsche Bank AG currently has a hold rating on the stock.
A number of other research analysts have also issued reports on JEC. Zacks Investment Research lowered shares of Jacobs Engineering Group from a buy rating to a hold rating in a research note on Thursday, August 11th. FBR & Co boosted their target price on shares of Jacobs Engineering Group from $47.00 to $55.00 and gave the company a mkt perform rating in a research note on Friday, August 12th. TheStreet raised shares of Jacobs Engineering Group from a hold rating to a buy rating in a research note on Monday, November 21st. Credit Suisse Group AG reissued a buy rating and set a $60.00 target price on shares of Jacobs Engineering Group in a research note on Tuesday, November 22nd. Finally, Jefferies Group reissued a buy rating and set a $54.00 target price on shares of Jacobs Engineering Group in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Jacobs Engineering Group 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 stock has a market capitalization 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’s 50 day moving average is $53.28 and its 200-day moving average is $52.11.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Jacobs Engineering Group had a net margin of 1.92% and a return on equity of 8.48%. The business earned $2.64 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the business posted $0.80 EPS. The company’s quarterly revenue was down 15.3% on a year-over-year basis. Equities research analysts forecast that Jacobs Engineering Group will post $3.20 EPS for the current year.
In other news, Director Noel G. Watson sold 66,668 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $51.71, for a total transaction of $3,447,402.28. Following the sale, the director now owns 736,669 shares in the company, valued at $38,093,153.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.16% of the company’s stock.
Several large investors have recently added to or reduced their stakes in JEC. Boston Partners raised its stake in Jacobs Engineering Group by 5,194.5% in the second quarter. Boston Partners now owns 3,445,961 shares of the company’s stock worth $171,643,000 after buying an additional 3,380,875 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Jacobs Engineering Group during the first quarter worth approximately $96,945,000. Bank of Montreal Can bought a new position in shares of Jacobs Engineering Group during the second quarter worth 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 worth $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 worth $102,027,000 after buying an additional 381,071 shares during the last quarter. Institutional investors and hedge funds own 86.63% of the company’s stock.
About Jacobs Engineering Group