Jacobs Solutions (NYSE:J) Hits New 52-Week High – What’s Next?

Jacobs Solutions Inc. (NYSE:J) shares hit a new 52-week high on Monday. The company traded as high as $157.48 and last traded at $156.94, with a volume of 37,913 shares trading hands. The stock had previously closed at $154.62.

Wall Street Analysts Forecast Growth

J has been the topic of a number of research analyst reports. KeyCorp reduced their price target on shares of Jacobs Solutions from $168.00 to $166.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. Citigroup increased their price objective on shares of Jacobs Solutions from $181.00 to $188.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Truist Financial dropped their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “hold” rating for the company in a report on Monday, October 5th. Weiss Ratings raised Jacobs Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Finally, Wall Street Zen lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, August 30th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $156.78.

Jacobs Solutions Stock Performance

The stock has a 50-day moving average price of $144.03 and a 200 day moving average price of $134.10. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of 56.60, a P/E/G ratio of 2.01 and a beta of 0.68.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, August 4th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.01. Jacobs Solutions had a net margin of 2.40% and a return on equity of 23.96%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the company earned $1.62 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast that Jacobs Solutions Inc. will post 7.24 EPS for the current year.

Insider Activity at Jacobs Solutions

In other Jacobs Solutions news, President Patrick Hill sold 17,201 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $144.10, for a total value of $2,478,664.10. Following the sale, the president directly owned 67,356 shares of the company’s stock, valued at approximately $9,705,999.60. This represents a 20.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Jacobs Solutions

Institutional investors have recently modified their holdings of the company. NBH Bank purchased a new position in Jacobs Solutions in the second quarter valued at $28,000. Continuum Advisory LLC purchased a new stake in Jacobs Solutions during the 2nd quarter worth about $28,000. Keating Financial Advisory Services Inc. purchased a new stake in Jacobs Solutions during the 2nd quarter worth about $30,000. Compass Financial Management LLC acquired a new position in shares of Jacobs Solutions during the 2nd quarter worth about $38,000. Finally, Heritage Family Offices LLP acquired a new position in shares of Jacobs Solutions during the 3rd quarter worth about $41,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

About Jacobs Solutions

Jacobs Solutions Inc (NYSE:J) is a global technical, professional and consulting services provider serving government and commercial clients. The company helps organizations plan, design, deliver and operate complex infrastructure and mission-critical programs, with expertise spanning advanced manufacturing, transportation, water, environmental services, energy, life sciences, space and national security.

Through its consulting and engineering operations, Jacobs provides services such as program and project management, engineering and design, architecture, environmental planning, digital solutions and operational support.