Wells Fargo & Company Initiates Coverage on Jacobs Solutions (NYSE:J)

Wells Fargo & Company assumed coverage on shares of Jacobs Solutions (NYSE:J) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set an “equal weight” rating and a $160.00 price target on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.52% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on J. Truist Financial raised their target price on Jacobs Solutions from $148.00 to $163.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. KeyCorp increased their price objective on Jacobs Solutions from $157.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wall Street Zen downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jacobs Solutions in a research report on Wednesday, October 8th. Finally, Barclays lifted their price objective on shares of Jacobs Solutions from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.78.

Jacobs Solutions Price Performance

Shares of Jacobs Solutions stock opened at $154.56 on Friday. The firm’s 50-day moving average price is $153.31 and its two-hundred day moving average price is $141.35. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 38.54, a P/E/G ratio of 1.87 and a beta of 0.83. Jacobs Solutions has a 1-year low of $106.23 and a 1-year high of $168.44.

Institutional Trading of Jacobs Solutions

Institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in shares of Jacobs Solutions by 3.4% during the first quarter. New York State Common Retirement Fund now owns 77,021 shares of the company’s stock worth $9,311,000 after buying an additional 2,500 shares in the last quarter. Apollon Wealth Management LLC increased its position in Jacobs Solutions by 363.2% during the first quarter. Apollon Wealth Management LLC now owns 9,843 shares of the company’s stock worth $1,190,000 after acquiring an additional 7,718 shares during the period. Whittier Trust Co. raised its stake in Jacobs Solutions by 6.6% in the 1st quarter. Whittier Trust Co. now owns 4,818 shares of the company’s stock worth $582,000 after purchasing an additional 300 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Jacobs Solutions by 1.8% in the 1st quarter. Victory Capital Management Inc. now owns 242,989 shares of the company’s stock valued at $29,375,000 after purchasing an additional 4,314 shares during the period. Finally, Dynasty Wealth Management LLC grew its position in shares of Jacobs Solutions by 3.2% during the 1st quarter. Dynasty Wealth Management LLC now owns 8,160 shares of the company’s stock worth $986,000 after purchasing an additional 253 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

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.