Jacobs Engineering Group Inc. (NYSE:JEC) was downgraded by research analysts at Citadel Securities from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday. They currently have a $66.00 price target on the construction company’s stock, up from their previous price target of $62.00. Citadel Securities’ target price would suggest a potential upside of 21.95% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Credit Suisse Group restated a “buy” rating and set a $69.00 target price on shares of Jacobs Engineering Group in a report on Friday, April 21st. Zacks Investment Research upgraded Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, April 11th. BidaskClub upgraded Jacobs Engineering Group from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Jefferies Group LLC restated a “hold” rating and set a $61.00 target price on shares of Jacobs Engineering Group in a report on Friday. Finally, Citigroup Inc. cut Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $61.17.

Shares of Jacobs Engineering Group (JEC) traded up 3.46% during midday trading on Tuesday, reaching $54.12. The company’s stock had a trading volume of 1,493,089 shares. Jacobs Engineering Group has a one year low of $49.15 and a one year high of $63.42. The stock’s 50 day moving average price is $53.53 and its 200 day moving average price is $54.97. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 31.47 and a beta of 1.52.

Jacobs Engineering Group (NYSE:JEC) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.79 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.79. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Jacobs Engineering Group had a return on equity of 8.56% and a net margin of 2.05%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. Analysts predict that Jacobs Engineering Group will post $3.13 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Jacobs Engineering Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,786,134 shares of the construction company’s stock worth $651,539,000 after buying an additional 446,045 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Jacobs Engineering Group by 7.8% in the first quarter. Primecap Management Co. CA now owns 8,258,797 shares of the construction company’s stock worth $456,546,000 after buying an additional 599,550 shares during the last quarter. BlackRock Inc. raised its stake in shares of Jacobs Engineering Group by 2,990.4% in the first quarter. BlackRock Inc. now owns 7,894,069 shares of the construction company’s stock worth $436,383,000 after buying an additional 7,638,632 shares during the last quarter. State Street Corp raised its stake in shares of Jacobs Engineering Group by 3.7% in the first quarter. State Street Corp now owns 5,361,210 shares of the construction company’s stock worth $296,379,000 after buying an additional 192,007 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Jacobs Engineering Group by 1.8% in the first quarter. FMR LLC now owns 4,566,833 shares of the construction company’s stock worth $252,455,000 after buying an additional 81,943 shares during the last quarter. 87.41% of the stock is currently owned by institutional investors.

About Jacobs Engineering Group

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)

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