Jacobs Engineering Group Inc. (JEC) Rating Increased to Strong-Buy at Zacks Investment Research
Jacobs Engineering Group Inc. (NYSE:JEC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $67.00 price target on the construction company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.18% from the stock’s current price.
According to Zacks, “Over the last three months, Jacobs’ shares have outperformed the industry. The company is poised to grow on the back of robust acquisitions and strategic restructuring moves. For instance, the company recently inked a $2.85-billion deal to acquire 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.”
A number of other brokerages have also recently issued reports on JEC. Citigroup Inc. cut shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a report on Thursday, August 3rd. BidaskClub raised shares of Jacobs Engineering Group from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. KeyCorp reaffirmed a “buy” rating and issued a $60.00 target price on shares of Jacobs Engineering Group in a report on Friday, August 25th. Robert W. Baird reaffirmed a “hold” rating and issued a $63.00 target price on shares of Jacobs Engineering Group in a report on Friday, October 6th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 target price on shares of Jacobs Engineering Group in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $62.33.
Shares of Jacobs Engineering Group (NYSE:JEC) opened at 58.17 on Tuesday. The company has a 50-day moving average price of $57.09 and a 200 day moving average price of $54.33. Jacobs Engineering Group has a 12-month low of $49.16 and a 12-month high of $63.42. The firm has a market capitalization of $7.00 billion, a PE ratio of 30.94 and a beta of 1.53.
Jacobs Engineering Group (NYSE:JEC) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.79 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.79. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities analysts expect that Jacobs Engineering Group will post $3.13 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Global X Management Co. LLC grew its position in shares of Jacobs Engineering Group by 204.2% in the first quarter. Global X Management Co. LLC now owns 2,032 shares of the construction company’s stock valued at $112,000 after purchasing an additional 1,364 shares during the last quarter. Advisor Group Inc. grew its position in shares of Jacobs Engineering Group by 18.8% in the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock valued at $117,000 after purchasing an additional 339 shares during the last quarter. First Manhattan Co. grew its position in shares of Jacobs Engineering Group by 1,013.6% in the second quarter. First Manhattan Co. now owns 2,383 shares of the construction company’s stock valued at $129,000 after purchasing an additional 2,169 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Jacobs Engineering Group in the first quarter valued at approximately $160,000. Finally, Invictus RG acquired a new stake in shares of Jacobs Engineering Group in the first quarter valued at approximately $178,000. Institutional investors and hedge funds own 86.15% of the company’s stock.
Jacobs Engineering Group Company Profile
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.
Receive News & Ratings for Jacobs Engineering Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jacobs Engineering Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.