Robert W. Baird Lowers Jacobs Solutions (NYSE:J) Price Target to $148.00

Jacobs Solutions (NYSE:J) had its price target reduced by equities researchers at Robert W. Baird from $154.00 to $148.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 10.89% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Citigroup lowered their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial upped their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. StockNews.com started coverage on Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions Stock Performance

NYSE J opened at $133.46 on Wednesday. The company has a market cap of $16.55 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.11 and a beta of 0.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.20. The business’s 50 day moving average price is $136.46 and its 200-day moving average price is $141.13. Jacobs Solutions has a fifty-two week low of $110.95 and a fifty-two week high of $150.54.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the business earned $1.45 EPS. Jacobs Solutions’s revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Jacobs Solutions will post 6.06 earnings per share for the current year.

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

Institutional Investors Weigh In On Jacobs Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its stake in Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Quarry LP grew its stake in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after purchasing an additional 233 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Jacobs Solutions during the 3rd quarter worth $42,000. True Wealth Design LLC acquired a new position in Jacobs Solutions during the 3rd quarter worth $44,000. Finally, Assetmark Inc. grew its stake in Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

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.