Jacobs Engineering Group (JEC) Price Target Increased to $70.00 by Analysts at Bank of America

Jacobs Engineering Group (NYSE:JEC) had its target price lifted by Bank of America from $62.00 to $70.00 in a research report sent to investors on Thursday morning. Bank of America currently has a neutral rating on the construction company’s stock.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Jacobs Engineering Group from a hold rating to a buy rating and set a $76.00 target price for the company in a research report on Monday, January 8th. ValuEngine raised Jacobs Engineering Group from a hold rating to a buy rating in a report on Sunday, December 31st. Argus reissued a buy rating and issued a $73.00 price objective on shares of Jacobs Engineering Group in a report on Monday, November 27th. They noted that the move was a valuation call. Barclays lifted their price objective on Jacobs Engineering Group from $75.00 to $78.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Finally, UBS Group raised Jacobs Engineering Group from a neutral rating to a buy rating and set a $82.00 price objective for the company in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Jacobs Engineering Group currently has an average rating of Hold and an average price target of $74.00.

Shares of Jacobs Engineering Group (JEC) traded down $2.15 during trading on Thursday, hitting $60.67. The stock had a trading volume of 791,305 shares, compared to its average volume of 1,179,177. Jacobs Engineering Group has a 1 year low of $49.31 and a 1 year high of $72.18. The stock has a market cap of $8,800.00, a price-to-earnings ratio of 31.72, a PEG ratio of 1.22 and a beta of 1.48. The company has a current ratio of 1.48, a quick ratio of 1.56 and a debt-to-equity ratio of 0.43.

Jacobs Engineering Group (NYSE:JEC) last announced its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.10. Jacobs Engineering Group had a return on equity of 8.59% and a net margin of 2.30%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the firm posted $0.68 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. equities analysts forecast that Jacobs Engineering Group will post 4.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, February 15th. Jacobs Engineering Group’s payout ratio is presently 30.93%.

In other Jacobs Engineering Group news, Director Joseph R. Bronson sold 6,125 shares of Jacobs Engineering Group stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total transaction of $385,936.25. Following the completion of the transaction, the director now owns 30,496 shares of the company’s stock, valued at approximately $1,921,552.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.74% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Pinebridge Investments L.P. grew its holdings in Jacobs Engineering Group by 29.1% during the 4th quarter. Pinebridge Investments L.P. now owns 14,952 shares of the construction company’s stock valued at $986,000 after buying an additional 3,368 shares in the last quarter. Global X Management Co. LLC grew its holdings in Jacobs Engineering Group by 65.3% during the 4th quarter. Global X Management Co. LLC now owns 9,479 shares of the construction company’s stock valued at $625,000 after buying an additional 3,743 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Jacobs Engineering Group by 13.7% during the 4th quarter. Toronto Dominion Bank now owns 51,883 shares of the construction company’s stock valued at $3,421,000 after acquiring an additional 6,240 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Jacobs Engineering Group by 6.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,288,179 shares of the construction company’s stock valued at $282,848,000 after acquiring an additional 276,095 shares during the last quarter. Finally, Barings LLC boosted its position in shares of Jacobs Engineering Group by 189.8% during the 4th quarter. Barings LLC now owns 33,744 shares of the construction company’s stock valued at $2,226,000 after acquiring an additional 22,100 shares during the last quarter. 71.79% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://sportsperspectives.com/2018/02/09/jacobs-engineering-group-jec-price-target-increased-to-70-00-by-analysts-at-bank-of-america.html.

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.

Analyst Recommendations for Jacobs Engineering Group (NYSE:JEC)

Receive News & Ratings for Jacobs Engineering Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jacobs Engineering Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply