Zacks Reiterates Neutral Rating for AECOM Technology Corp (ACM)
AECOM Technology Corp (NYSE:ACM)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Monday. They currently have a $39.00 price objective on the stock. Zacks‘s price target would suggest a potential upside of 4.78% from the company’s current price.
Zacks’ analyst wrote, “AECOM is a provider of professional, technical and management support services. We are reiterating our Neutral recommendation with a target price of $39. The company reported modest third-quarter fiscal 2014 results with earnings coming in line with the Zacks Consensus Estimate. However, top line declined due to weak performances of the Management Support Services business. The company’s backlog levels remain strong, with the MSS business starting to benefit from the restructuring initiatives. The recent deal with URS Corp is also likely to be accretive for the company. However, this acquisition is expected to substantially drive up the company’s debt levels, which can weigh on its financials in the short term.”
A number of other firms have also recently commented on ACM. Analysts at Standpoint Research downgraded shares of AECOM Technology Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Separately, analysts at Argus raised their price target on shares of AECOM Technology Corp from $38.00 to $41.00 in a research note on Wednesday, August 13th. They now have a “buy” rating on the stock. Finally, analysts at Bank of America reiterated a “buy” rating on shares of AECOM Technology Corp in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. AECOM Technology Corp currently has a consensus rating of “Hold” and an average target price of $37.56.
AECOM Technology Corp (NYSE:ACM) traded up 0.81% during mid-day trading on Monday, hitting $37.52. The stock had a trading volume of 308,058 shares. AECOM Technology Corp has a 52 week low of $27.35 and a 52 week high of $37.64. The stock has a 50-day moving average of $34.82 and a 200-day moving average of $32.53. The company has a market cap of $3.732 billion and a price-to-earnings ratio of 15.08.
AECOM Technology Corp (NYSE:ACM) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.64 by $0.06. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts predict that AECOM Technology Corp will post $2.52 earnings per share for the current fiscal year.
AECOM Technology Corporation (NYSE:ACM), is a provider of professional technical and management support services for commercial and government clients around the world.
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