Citigroup Has Lowered Expectations for Jacobs Solutions (NYSE:J) Stock Price

Jacobs Solutions (NYSE:J - Get Free Report) had its target price lowered by investment analysts at Citigroup from $161.00 to $151.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 22.04% from the stock's current price.

Several other analysts have also issued reports on J. Robert W. Baird reduced their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Truist Financial lowered their price target on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $150.86.

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock traded down $0.18 during trading on Friday, hitting $123.73. 231,738 shares of the stock were exchanged, compared to its average volume of 781,305. Jacobs Solutions has a 1-year low of $106.23 and a 1-year high of $156.31. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73. The company has a fifty day moving average price of $121.02 and a 200-day moving average price of $131.83. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter last year, the business earned $1.45 earnings per share. Jacobs Solutions's revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Jacobs Solutions will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its board has authorized a share repurchase program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Jacobs Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Colonial Trust Co SC grew its position in shares of Jacobs Solutions by 10,250.0% in the fourth quarter. Colonial Trust Co SC now owns 207 shares of the company's stock valued at $28,000 after purchasing an additional 205 shares during the period. Avalon Trust Co purchased a new position in shares of Jacobs Solutions in the 4th quarter valued at about $33,000. Rossby Financial LCC purchased a new position in Jacobs Solutions in the first quarter valued at $33,000. Larson Financial Group LLC grew its position in shares of Jacobs Solutions by 71.9% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company's stock valued at $37,000 after buying an additional 115 shares during the last quarter. Finally, Assetmark Inc. boosted 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 during the period. Hedge funds and other institutional investors own 85.65% of the company's stock.

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.