Jim Cramer Says the Pullback in Jacobs Solutions Makes No Sense to Him

Jacobs Solutions Inc. (NYSE:J) made our Mad Money recap, as Jim Cramer shared his take on the stock and highlighted resilient consumer spending despite the Iran conflict. Cramer noted that the stock’s decline does not make sense to him, as he commented:

People keep saying the market’s overvalued. I know a lot of high-quality stocks have come down from their highs in the last month and a half. Take one that we’ve liked for a long time, Jacobs Solutions. It’s the engineering construction firm that’s got some tremendous data center exposure. They reported an excellent quarter in early February. I mean, beat and raise, beat and raise, beat and raise, but the stock’s down about 2% year to date. Makes no sense to me.

Photo by Adam Nowakowski on Unsplash

Jacobs Solutions Inc. (NYSE:J) provides consulting, design, engineering, and infrastructure delivery services for several industries. A caller asked about the stock during the November 24 episode, and Cramer responded:

Okay, let me just say right now, Jacobs Solutions, I think, was incorrectly valued last week when an analyst came out and said that they did not do the number and did not do the forecast. That was not true. Bob Pragada did the number, and he gave a good forecast. And that’s why I think that Goldman Sachs recommended it today. I can’t speak highly enough about both Jacobs and the price that it’s at. I would buy this thing at $132.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.