Truist Financial Forecasts Strong Price Appreciation for Jacobs Solutions (NYSE:J) Stock

Jacobs Solutions (NYSE:J) had its price target raised by research analysts at Truist Financial from $130.00 to $141.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 10.89% from the stock’s current price.

Several other brokerages have also weighed in on J. Royal Bank of Canada increased their price objective on Jacobs Solutions from $152.00 to $154.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Citigroup lowered their price target on Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a report on Friday, April 25th. UBS Group lowered their target price on Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a research note on Friday. Finally, Robert W. Baird decreased their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Jacobs Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $150.86.

Jacobs Solutions Trading Up 3.6%

Shares of J stock traded up $4.39 during mid-day trading on Monday, hitting $127.15. The company’s stock had a trading volume of 546,960 shares, compared to its average volume of 796,158. The company has a market cap of $15.58 billion, a PE ratio of 26.22, a P/E/G ratio of 1.84 and a beta of 0.77. The company’s fifty day simple moving average is $120.47 and its 200-day simple moving average is $130.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. Jacobs Solutions has a 52 week low of $106.23 and a 52 week high of $156.31.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the firm earned $1.91 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Jacobs Solutions will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions declared that its board has initiated a share repurchase plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Jacobs Solutions

Several large investors have recently made changes to their positions in J. Heritage Family Offices LLP lifted its holdings in Jacobs Solutions by 55.7% in the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock valued at $1,993,000 after purchasing an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Jacobs Solutions by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock worth $1,305,000 after acquiring an additional 175 shares during the last quarter. Occidental Asset Management LLC grew its stake in Jacobs Solutions by 11.7% during the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after acquiring an additional 2,619 shares in the last quarter. National Bank of Canada FI raised its holdings in Jacobs Solutions by 956.8% in the 4th quarter. National Bank of Canada FI now owns 264,824 shares of the company’s stock valued at $35,386,000 after acquiring an additional 239,764 shares during the last quarter. Finally, Keene & Associates Inc. purchased a new position in Jacobs Solutions in the 4th quarter worth approximately $2,973,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

About Jacobs Solutions

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.