Zacks Investment Research upgraded shares of AECOM (NYSE:ACM) from a hold rating to a buy rating in a report issued on Wednesday, April 11th. They currently have $40.00 target price on the construction company’s stock.
According to Zacks, “Over the past six months, AECOM’s shares have outperformed the industry average. AECOM has been witnessing robust prospects across most of its business segments that adds to its growth momentum. Increase in the proportion of higher margin work is benefiting AECOM’s Construction Services segment and Management Services segments. Also, the Shimmick buyout is supplementing core revenue growth. Going forward, the company remains optimistic that favorable political climate both in the United States and abroad will continue to create growth opportunities of the infrastructure and defense markets. However, volatility in the oil and gas market, with declining prices and contracting spending levels, has been hurting the company’s projects and orders. Also strengthening of the U.S. dollar adds to the company’s concerns.”
Several other brokerages have also recently weighed in on ACM. Barclays assumed coverage on AECOM in a report on Tuesday, December 12th. They set an underweight rating and a $34.00 price objective for the company. Robert W. Baird raised AECOM from a neutral rating to an outperform rating and boosted their price objective for the stock from $40.00 to $45.00 in a report on Wednesday, January 3rd. DA Davidson boosted their price objective on AECOM to $40.00 and gave the stock a neutral rating in a report on Wednesday, February 7th. Finally, Citigroup boosted their price objective on AECOM from $44.00 to $47.00 and gave the stock a buy rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. AECOM currently has an average rating of Hold and a consensus price target of $36.73.
Shares of NYSE:ACM opened at $36.75 on Wednesday. AECOM has a 52 week low of $30.15 and a 52 week high of $39.90. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $5,828.77, a PE ratio of 12.50, a PEG ratio of 2.45 and a beta of 1.65.
AECOM (NYSE:ACM) last released its quarterly earnings results on Tuesday, February 6th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.71 billion. AECOM had a return on equity of 11.74% and a net margin of 2.15%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. sell-side analysts forecast that AECOM will post 2.69 EPS for the current year.
In other news, Vice Chairman Daniel R. Tishman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $37.00, for a total transaction of $555,000.00. Following the sale, the insider now owns 114,095 shares in the company, valued at approximately $4,221,515. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lara Poloni sold 4,976 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $36.70, for a total value of $182,619.20. Following the sale, the insider now owns 3,895 shares in the company, valued at approximately $142,946.50. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ACM. New York State Common Retirement Fund raised its stake in AECOM by 12.8% in the 3rd quarter. New York State Common Retirement Fund now owns 379,120 shares of the construction company’s stock valued at $13,955,000 after acquiring an additional 43,120 shares during the period. Legal & General Group Plc raised its stake in AECOM by 12.6% in the 3rd quarter. Legal & General Group Plc now owns 234,574 shares of the construction company’s stock valued at $8,635,000 after acquiring an additional 26,258 shares during the period. Wells Fargo & Company MN increased its position in AECOM by 3.5% during the 3rd quarter. Wells Fargo & Company MN now owns 326,329 shares of the construction company’s stock worth $12,013,000 after buying an additional 10,975 shares during the period. Dimensional Fund Advisors LP increased its position in AECOM by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,742,824 shares of the construction company’s stock worth $174,587,000 after buying an additional 24,471 shares during the period. Finally, Allianz Asset Management GmbH increased its position in AECOM by 44.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 155,933 shares of the construction company’s stock worth $5,740,000 after buying an additional 47,791 shares during the period. Institutional investors and hedge funds own 84.11% of the company’s stock.
AECOM Company Profile
AECOM, together with its subsidiaries, engages in designing, building, financing, and operating infrastructure assets worldwide. The company operates through four segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). The DCS segment provides planning, consulting, architectural and engineering design, program management, and construction management services for industrial, commercial, institutional, and government clients, such as transportation, facilities, environmental, and energy/power markets.
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