Citadel Securities Downgrades Jacobs Engineering Group Inc. (JEC) to Neutral
Jacobs Engineering Group Inc. (NYSE:JEC) was downgraded by equities researchers at Citadel Securities from a “buy” rating to a “neutral” rating in a report released on Tuesday. They currently have a $66.00 price target on the construction company’s stock, up from their previous price target of $62.00. Citadel Securities’ target price indicates a potential upside of 21.95% from the company’s previous close.
Other research analysts also recently issued reports about the company. BidaskClub raised Jacobs Engineering Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price target on shares of Jacobs Engineering Group in a research note on Friday. Robert W. Baird reaffirmed a “neutral” rating and set a $64.00 price target (up from $62.00) on shares of Jacobs Engineering Group in a research note on Friday, May 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $69.00 price target on shares of Jacobs Engineering Group in a research note on Friday, April 21st. Finally, Citigroup Inc. downgraded Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $61.17.
Jacobs Engineering Group (NYSE JEC) traded up 3.46% on Tuesday, hitting $54.12. The company had a trading volume of 1,493,089 shares. Jacobs Engineering Group has a one year low of $49.15 and a one year high of $63.42. The company has a market capitalization of $6.52 billion, a P/E ratio of 31.47 and a beta of 1.52. The stock’s 50-day moving average price is $53.53 and its 200 day moving average price is $54.97.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. Jacobs Engineering Group had a return on equity of 8.56% and a net margin of 2.05%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the business earned $0.78 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts expect that Jacobs Engineering Group will post $3.13 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in JEC. BlackRock Inc. raised its position in Jacobs Engineering Group by 2,990.4% in the first quarter. BlackRock Inc. now owns 7,894,069 shares of the construction company’s stock valued at $436,383,000 after buying an additional 7,638,632 shares in the last quarter. AQR Capital Management LLC raised its position in Jacobs Engineering Group by 50.2% in the first quarter. AQR Capital Management LLC now owns 2,653,141 shares of the construction company’s stock valued at $146,665,000 after buying an additional 886,230 shares in the last quarter. American Century Companies Inc. acquired a new position in Jacobs Engineering Group during the first quarter valued at about $47,022,000. Primecap Management Co. CA raised its position in Jacobs Engineering Group by 7.8% in the first quarter. Primecap Management Co. CA now owns 8,258,797 shares of the construction company’s stock valued at $456,546,000 after buying an additional 599,550 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Jacobs Engineering Group by 26.2% in the second quarter. Victory Capital Management Inc. now owns 2,527,660 shares of the construction company’s stock valued at $137,479,000 after buying an additional 524,310 shares in the last quarter. 87.41% of the stock is owned by institutional investors.
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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