Jacobs Solutions (NYSE:J) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Jacobs Solutions reached a new 52-week high of $164.13 following an upgrade from Citigroup, which raised its price target from $169.00 to $185.00 and maintained a buy rating.
• Analyst ratings for Jacobs Solutions show a consensus of six buy ratings and four holds, with an average price target of $162.00.
• Jacobs Solutions recently announced a quarterly dividend of $0.32 per share, reflecting an annual yield of 0.8% with a payout ratio of 31.92%.

Jacobs Solutions Inc. (NYSE:J - Get Free Report) reached a new 52-week high during trading on Monday after Citigroup raised their price target on the stock from $169.00 to $185.00. Citigroup currently has a buy rating on the stock. Jacobs Solutions traded as high as $162.44 and last traded at $164.13, with a volume of 1565628 shares changing hands. The stock had previously closed at $155.39.

Other analysts have also issued research reports about the company. Truist Financial increased their target price on Jacobs Solutions from $148.00 to $163.00 and gave the stock a "hold" rating in a research note on Wednesday, October 8th. Barclays increased their target price on Jacobs Solutions from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Jacobs Solutions in a research note on Wednesday, October 8th. KeyCorp increased their target price on Jacobs Solutions from $157.00 to $170.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, UBS Group increased their target price on Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Institutional Trading of Jacobs Solutions

Institutional investors have recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its stake in Jacobs Solutions by 103.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 187 shares of the company's stock worth $25,000 after buying an additional 95 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Jacobs Solutions during the 1st quarter worth about $33,000. Costello Asset Management INC acquired a new position in shares of Jacobs Solutions during the 2nd quarter worth about $43,000. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Jacobs Solutions during the 2nd quarter worth about $44,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Jacobs Solutions during the 2nd quarter worth approximately $44,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Jacobs Solutions Stock Up 5.2%

The business's fifty day moving average price is $149.42 and its 200 day moving average price is $135.77. The firm has a market capitalization of $19.55 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 1.83 and a beta of 0.81. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.65.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.06. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%.The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the firm earned $1.96 EPS. The firm's revenue for the quarter was down 28.4% on a year-over-year basis. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. On average, equities analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.28 annualized dividend and a yield of 0.8%. Jacobs Solutions's payout ratio is currently 31.92%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.