Aecom (ACM) Coverage Initiated at Barclays
Research analysts at Barclays assumed coverage on shares of Aecom (NYSE:ACM) in a research report issued on Tuesday. The firm set an “underweight” rating and a $34.00 price target on the construction company’s stock. Barclays’ price target would indicate a potential downside of 11.18% from the company’s previous close.
ACM has been the topic of a number of other reports. KeyCorp reissued a “buy” rating on shares of Aecom in a report on Friday, September 22nd. Credit Suisse Group reissued a “neutral” rating on shares of Aecom in a report on Tuesday, November 14th. DA Davidson reissued a “hold” rating and set a $39.00 price objective on shares of Aecom in a report on Tuesday, November 14th. Zacks Investment Research raised Aecom from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, UBS reissued a “buy” rating and set a $4.00 price objective (down from $40.00) on shares of Aecom in a report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Aecom presently has a consensus rating of “Hold” and a consensus target price of $31.30.
Aecom (NYSE:ACM) opened at $38.28 on Tuesday. The firm has a market capitalization of $6,118.98, a PE ratio of 13.20, a P/E/G ratio of 2.08 and a beta of 1.73. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88. Aecom has a 1-year low of $30.15 and a 1-year high of $39.50.
Aecom (NYSE:ACM) last announced its quarterly earnings data on Monday, November 13th. The construction company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Aecom had a return on equity of 12.12% and a net margin of 1.86%. Aecom’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. research analysts anticipate that Aecom will post 2.66 earnings per share for the current year.
Aecom declared that its Board of Directors has approved a share buyback program on Thursday, September 21st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 18.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Aecom news, CEO Michael S. Burke sold 56,800 shares of Aecom stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $36.86, for a total value of $2,093,648.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael S. Burke sold 30,000 shares of Aecom stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $37.00, for a total value of $1,110,000.00. Following the completion of the transaction, the chief executive officer now directly owns 154,362 shares in the company, valued at $5,711,394. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in ACM. Stifel Financial Corp increased its stake in shares of Aecom by 4.2% during the second quarter. Stifel Financial Corp now owns 10,925 shares of the construction company’s stock valued at $353,000 after buying an additional 441 shares during the period. Sii Investments Inc. WI increased its stake in shares of Aecom by 3.5% during the second quarter. Sii Investments Inc. WI now owns 13,252 shares of the construction company’s stock valued at $429,000 after buying an additional 450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Aecom by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock valued at $173,000 after buying an additional 576 shares during the period. Utah Retirement Systems increased its stake in shares of Aecom by 2.2% during the second quarter. Utah Retirement Systems now owns 28,329 shares of the construction company’s stock valued at $916,000 after buying an additional 600 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Aecom by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 46,604 shares of the construction company’s stock valued at $1,507,000 after buying an additional 819 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.
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AECOM is engaged in designing, building, financing and operating infrastructure assets for governments, businesses and organizations. The Company’s segments include design and consulting services (DCS), construction services (CS) and management services (MS). Its DCS segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as transportation, facilities, environmental, energy, water and government.
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