MKM Partners Lowers Jacobs Engineering Group (JEC) Price Target to $83.00

Jacobs Engineering Group (NYSE:JEC) had its target price cut by equities researchers at MKM Partners from $84.00 to $83.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the construction company’s stock. MKM Partners’ price target points to a potential upside of 27.28% from the stock’s previous close.

A number of other research firms have also recently weighed in on JEC. Zacks Investment Research cut shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Citigroup raised shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Monday, October 22nd. Robert W. Baird increased their price objective on shares of Jacobs Engineering Group from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Finally, Barclays reissued a “buy” rating and issued a $83.00 price objective on shares of Jacobs Engineering Group in a research note on Thursday, October 18th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $83.14.

NYSE:JEC opened at $65.21 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 1.45. Jacobs Engineering Group has a fifty-two week low of $55.21 and a fifty-two week high of $82.24. The firm has a market cap of $9.25 billion, a PE ratio of 14.59, a P/E/G ratio of 0.96 and a beta of 1.41.

Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings results on Tuesday, November 20th. The construction company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.07. Jacobs Engineering Group had a net margin of 1.19% and a return on equity of 10.39%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 56.1% on a year-over-year basis. As a group, equities research analysts expect that Jacobs Engineering Group will post 5.28 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Jacobs Engineering Group by 1.2% during the 3rd quarter. BlackRock Inc. now owns 8,379,897 shares of the construction company’s stock worth $641,064,000 after purchasing an additional 103,039 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Jacobs Engineering Group by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 4,918,774 shares of the construction company’s stock worth $312,292,000 after purchasing an additional 139,022 shares during the last quarter. FMR LLC boosted its stake in shares of Jacobs Engineering Group by 3.6% during the 3rd quarter. FMR LLC now owns 4,309,847 shares of the construction company’s stock worth $329,703,000 after purchasing an additional 151,132 shares during the last quarter. CI Global Investments Inc. boosted its stake in shares of Jacobs Engineering Group by 27.7% during the 3rd quarter. CI Global Investments Inc. now owns 3,595,224 shares of the construction company’s stock worth $275,035,000 after purchasing an additional 779,327 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Jacobs Engineering Group by 354.8% during the 3rd quarter. Alliancebernstein L.P. now owns 1,817,462 shares of the construction company’s stock worth $139,036,000 after purchasing an additional 1,417,879 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Engineering Group Company Profile

Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.

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Analyst Recommendations for Jacobs Engineering Group (NYSE:JEC)

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