Jacobs Engineering Group (NYSE:JEC) had its target price lifted by equities research analysts at UBS Group from $83.00 to $85.00 in a research note issued on Tuesday, August 7th, www.analystratings.com reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s price target indicates a potential upside of 16.93% from the stock’s current price.
Other equities analysts have also issued reports about the company. KeyCorp boosted their price target on Jacobs Engineering Group from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 7th. Jefferies Financial Group restated a “hold” rating and set a $74.00 price target on shares of Jacobs Engineering Group in a research note on Tuesday, August 7th. Robert W. Baird restated an “outperform” rating and set a $82.00 price target (up from $73.00) on shares of Jacobs Engineering Group in a research note on Monday, August 6th. DA Davidson raised Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Monday, August 6th. Finally, Citigroup lifted their price objective on Jacobs Engineering Group from $69.00 to $70.00 and gave the company a “$66.12” rating in a report on Monday, July 23rd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $78.85.
NYSE JEC traded down $0.29 during trading on Tuesday, hitting $72.69. 800,700 shares of the company traded hands, compared to its average volume of 1,154,482. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $10.30 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49. Jacobs Engineering Group has a 12 month low of $51.96 and a 12 month high of $73.90.
In other Jacobs Engineering Group news, Director Robert C. Davidson, Jr. sold 700 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $65.95, for a total transaction of $46,165.00. Following the completion of the sale, the director now owns 28,618 shares in the company, valued at approximately $1,887,357.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.74% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in JEC. Select Equity Group L.P. increased its position in shares of Jacobs Engineering Group by 144.4% in the 1st quarter. Select Equity Group L.P. now owns 1,520,317 shares of the construction company’s stock valued at $89,927,000 after buying an additional 898,140 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Jacobs Engineering Group by 658.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 710,289 shares of the construction company’s stock worth $45,096,000 after purchasing an additional 616,689 shares during the period. Marshall Wace LLP acquired a new position in Jacobs Engineering Group in the 2nd quarter worth $38,937,000. Epoch Investment Partners Inc. boosted its stake in Jacobs Engineering Group by 66.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,518,212 shares of the construction company’s stock worth $89,803,000 after purchasing an additional 606,335 shares during the period. Finally, Millennium Management LLC boosted its stake in Jacobs Engineering Group by 66.1% in the 2nd quarter. Millennium Management LLC now owns 1,332,939 shares of the construction company’s stock worth $84,628,000 after purchasing an additional 530,536 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.
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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