Argus Raises Jacobs Engineering (NYSE:J) Price Target to $110.00

Jacobs Engineering (NYSE:J) had its target price boosted by Argus from $100.00 to $110.00 in a report issued on Wednesday morning, Briefing.com Automated Import reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on the company. Stifel Nicolaus cut their target price on Jacobs Engineering from $110.00 to $100.00 and set a buy rating on the stock in a research report on Friday, May 8th. DA Davidson cut their target price on Jacobs Engineering from $110.00 to $95.00 in a research report on Monday, May 11th. William Blair reissued a buy rating on shares of Jacobs Engineering in a research report on Tuesday, June 2nd. TheStreet raised Jacobs Engineering from a c+ rating to a b rating in a research report on Monday, August 3rd. Finally, Citigroup boosted their target price on Jacobs Engineering from $98.00 to $104.00 and gave the company a buy rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Jacobs Engineering presently has an average rating of Buy and an average target price of $102.00.

Shares of J stock traded up $0.04 during trading on Wednesday, hitting $90.00. 472,254 shares of the stock traded hands, compared to its average volume of 1,005,175. The firm has a market capitalization of $11.92 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.69 and a quick ratio of 1.69. The firm’s fifty day moving average price is $85.05 and its 200-day moving average price is $85.26. Jacobs Engineering has a 52-week low of $59.29 and a 52-week high of $104.00.

Jacobs Engineering (NYSE:J) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.27. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.18 billion. Jacobs Engineering had a net margin of 4.11% and a return on equity of 12.25%. The business’s revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Jacobs Engineering will post 5.19 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, July 24th will be paid a $0.19 dividend. The ex-dividend date is Thursday, July 23rd. This represents a $0.76 annualized dividend and a dividend yield of 0.84%. Jacobs Engineering’s dividend payout ratio (DPR) is 15.05%.

In related news, Director Joseph R. Bronson sold 3,500 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $90.08, for a total transaction of $315,280.00. Following the completion of the transaction, the director now owns 28,103 shares in the company, valued at $2,531,518.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Linda Fayne Levinson sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $80.19, for a total transaction of $80,190.00. Following the transaction, the director now owns 57,888 shares of the company’s stock, valued at approximately $4,642,038.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,500 shares of company stock valued at $480,680. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently modified their holdings of J. New England Research & Management Inc. acquired a new position in shares of Jacobs Engineering during the first quarter worth $428,000. AXA acquired a new position in shares of Jacobs Engineering during the first quarter worth $4,883,000. Royal Bank of Canada acquired a new position in shares of Jacobs Engineering during the first quarter worth $72,916,000. State Street Corp acquired a new position in shares of Jacobs Engineering during the first quarter worth $723,368,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Jacobs Engineering during the first quarter worth $7,790,000. Hedge funds and other institutional investors own 88.87% of the company’s stock.

About Jacobs Engineering

Jacobs Engineering Group, Inc engages in the provision of a diverse range of technical, professional, and construction services to industrial, commercial, and governmental clients. Jacobs provides professional services through two lines of businesses: Critical Mission Solutions, and People and Places Solutions.

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Analyst Recommendations for Jacobs Engineering (NYSE:J)

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