Truist Financial Lowers Jacobs Solutions (NYSE:J) Price Target to $153.00

Jacobs Solutions (NYSE:J) had its target price dropped by analysts at Truist Financial from $154.00 to $153.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 9.13% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird lowered their target price on shares of Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday. KeyCorp began coverage on shares of Jacobs Solutions in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. William Blair lowered shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday. Argus lifted their price objective on shares of Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, Royal Bank of Canada lifted their price objective on shares of Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Jacobs Solutions presently has an average rating of “Moderate Buy” and an average target price of $156.25.

Jacobs Solutions Price Performance

J stock traded up $0.41 during trading on Wednesday, hitting $140.20. 39,448 shares of the company’s stock traded hands, compared to its average volume of 651,626. The business has a fifty day simple moving average of $147.17 and a 200 day simple moving average of $138.31. The stock has a market capitalization of $17.62 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 1.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. Jacobs Solutions has a 52 week low of $109.00 and a 52 week high of $154.50.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.07. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $1.81 EPS. As a group, research analysts expect that Jacobs Solutions will post 8.07 EPS for the current fiscal year.

Insider Transactions at Jacobs Solutions

In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the transaction, the insider now owns 555,138 shares in the company, valued at approximately $85,047,141.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Patrick Hill sold 5,486 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $149.00, for a total value of $817,414.00. Following the sale, the executive vice president now owns 57,233 shares in the company, valued at $8,527,717. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the sale, the insider now directly owns 555,138 shares in the company, valued at approximately $85,047,141.60. The disclosure for this sale can be found here. Insiders sold 24,338 shares of company stock valued at $3,618,695 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jacobs Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors increased its holdings in Jacobs Solutions by 0.8% in the 4th quarter. Capital World Investors now owns 6,398,776 shares of the company’s stock worth $830,561,000 after acquiring an additional 49,545 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Jacobs Solutions by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,446,374 shares of the company’s stock worth $447,339,000 after buying an additional 14,821 shares in the last quarter. Boston Partners grew its holdings in shares of Jacobs Solutions by 268.4% during the fourth quarter. Boston Partners now owns 2,891,429 shares of the company’s stock worth $375,623,000 after buying an additional 2,106,589 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of Jacobs Solutions by 5.9% during the fourth quarter. Ninety One UK Ltd now owns 2,044,031 shares of the company’s stock worth $265,315,000 after buying an additional 114,076 shares in the last quarter. Finally, Third Point LLC grew its holdings in shares of Jacobs Solutions by 32.8% during the third quarter. Third Point LLC now owns 1,800,000 shares of the company’s stock worth $245,700,000 after buying an additional 445,018 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Company Profile

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.