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Upgrade Alert for Jacobs Engineering Group (JEC)

By David Diaz

Jacobs Engineering Group (NYSE:JEC) was upgraded from Hold to Accumulate at Johnson Rice today. The stock closed yesterday at $49.24 on volume of 2.4 million shares, above average daily volume of 745,000.

In the past 52 weeks, Jacobs Engineering Group share prices have been bracketed by a low of $34.76 and a high of $48.67 and closed yesterday at $49.24, 42% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.2%.

Jacobs Engineering Group Inc. provides a broad range of technical, professional, and construction services to a large number of industrial, commercial, and governmental clients around the world. The Company's servies include project servicees, process, scientific, and systems consulting, construction services, and operations and maintenance services.

Based on a current price of $49.24, Jacobs Engineering Group is currently 2.5% above its average consensus analyst price target of $48.00. The stock should discover initial support at its 50-day moving average (MA) of $42.58 and subsequent support at its 200-day MA of $40.84.

SmarTrend is monitoring the recent change of momentum in Jacobs Engineering Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Jacobs Engineering Group in search of a potential trend change.

Keywords: analyst upgrades/downgrades jacobs engineering group

Ticker(s): JEC