Royal Bank of Canada Boosts Jacobs Solutions (NYSE:J) Price Target to $167.00

Jacobs Solutions (NYSE:J) had its price objective increased by research analysts at Royal Bank of Canada from $161.00 to $167.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 18.17% from the company’s previous close.

A number of other research firms have also recently issued reports on J. Robert W. Baird decreased their price target on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday. William Blair lowered shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 8th. StockNews.com lowered shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. Citigroup increased their price objective on shares of Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, Truist Financial restated a “hold” rating and set a $158.00 price target (up previously from $153.00) on shares of Jacobs Solutions in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.55.

Jacobs Solutions Stock Up 0.4 %

NYSE:J traded up $0.63 during midday trading on Wednesday, reaching $141.32. 208,507 shares of the stock traded hands, compared to its average volume of 658,978. The business has a 50-day moving average of $141.51 and a two-hundred day moving average of $143.25. The stock has a market capitalization of $17.70 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 1.67 and a beta of 0.70. Jacobs Solutions has a 12-month low of $120.71 and a 12-month high of $154.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.96. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a net margin of 3.83% and a return on equity of 14.59%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. On average, equities analysts forecast that Jacobs Solutions will post 7.98 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $139.43, for a total value of $976,010.00. Following the sale, the insider now owns 541,138 shares in the company, valued at $75,450,871.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 21,000 shares of company stock worth $2,983,750 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jacobs Solutions

Institutional investors have recently bought and sold shares of the company. Boston Partners grew its holdings in shares of Jacobs Solutions by 268.4% in the fourth quarter. Boston Partners now owns 2,891,429 shares of the company’s stock valued at $375,623,000 after purchasing an additional 2,106,589 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Jacobs Solutions by 134.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,658,049 shares of the company’s stock valued at $215,215,000 after purchasing an additional 951,369 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Jacobs Solutions by 14,897.6% during the 4th quarter. Panagora Asset Management Inc. now owns 321,548 shares of the company’s stock worth $41,737,000 after purchasing an additional 319,404 shares during the period. Corient Private Wealth LLC grew its position in Jacobs Solutions by 63.1% during the 4th quarter. Corient Private Wealth LLC now owns 566,841 shares of the company’s stock worth $73,576,000 after purchasing an additional 219,221 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in Jacobs Solutions by 376.7% in the fourth quarter. TD Asset Management Inc now owns 276,578 shares of the company’s stock valued at $35,900,000 after purchasing an additional 218,560 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

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.