Aecom Technology Corp. (ACM) Raised to “Hold” at Zacks Investment Research
Aecom Technology Corp. (NYSE:ACM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “AECOM has a decent earnings history, beating estimates thrice in the trailing four quarters. Factors like solid execution on projects and lower expenses from acquisitions & integration, have been fuelling the company’s bottom-line performance over the past few quarters. Positive industry trends, especially in Building Construction, Management Services and Americas Design markets, indicate that the company stands to gain significantly in the near future. Also, robust backlog levels underscore its resiliency. However, macroeconomic factors like strengthening of the U.S. dollar and unfavorable political & military conditions in certain end-markets pose as concerns. Continued volatility in the oil and gas market, with declining prices and contracting spending levels, is hurting the company’s projects and orders. Moreover, location of the company’s operations in risk-prone areas makes it vulnerable to natural disasters.”
A number of other research firms have also recently weighed in on ACM. Standpoint Research restated a “buy” rating on shares of Aecom Technology Corp. in a research note on Wednesday, July 27th. TheStreet upgraded shares of Aecom Technology Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. DA Davidson boosted their price target on shares of Aecom Technology Corp. from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 10th. Citigroup Inc. reiterated a “buy” rating on shares of Aecom Technology Corp. in a research note on Friday, August 19th. Finally, Argus reiterated a “hold” rating on shares of Aecom Technology Corp. in a research note on Thursday, August 18th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.18.
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Shares of Aecom Technology Corp. (NYSE:ACM) traded up 0.924% during midday trading on Monday, hitting $27.865. The company had a trading volume of 241,082 shares. Aecom Technology Corp. has a 1-year low of $22.80 and a 1-year high of $36.20. The firm has a market capitalization of $4.28 billion, a P/E ratio of 48.715 and a beta of 1.79. The stock has a 50 day moving average price of $29.25 and a 200 day moving average price of $31.68.
Aecom Technology Corp. (NYSE:ACM) last released its earnings results on Tuesday, August 9th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. Aecom Technology Corp. had a net margin of 0.51% and a return on equity of 14.11%. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the previous year, the company earned $0.74 EPS. Aecom Technology Corp.’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that Aecom Technology Corp. will post $3.12 EPS for the current fiscal year.
In related news, insider Michael John Donnelly sold 5,700 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $36.00, for a total transaction of $205,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Frederick W. Werner sold 27,787 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $27.83, for a total transaction of $773,312.21. Following the transaction, the insider now owns 62,936 shares in the company, valued at $1,751,508.88. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Reilly Financial Advisors LLC purchased a new position in shares of Aecom Technology Corp. during the second quarter valued at approximately $114,000. Daiwa Securities Group Inc. bought a new position in shares of Aecom Technology Corp. during the second quarter worth approximately $127,000. FCA Corp TX increased its position in shares of Aecom Technology Corp. by 21.4% in the second quarter. FCA Corp TX now owns 8,500 shares of the company’s stock worth $270,000 after buying an additional 1,500 shares in the last quarter. Front Street Capital Management Inc. bought a new position in shares of Aecom Technology Corp. during the second quarter worth approximately $299,000. Finally, LS Investment Advisors LLC increased its position in shares of Aecom Technology Corp. by 73.3% in the second quarter. LS Investment Advisors LLC now owns 9,509 shares of the company’s stock worth $302,000 after buying an additional 4,021 shares in the last quarter. Institutional investors own 84.40% of the company’s stock.
About Aecom Technology Corp.
AECOM, formerly AECOM Technology Corporation, designs, builds, finances and operates infrastructure assets for governments, businesses and organizations around the world. The Company provides program and facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and information technology (IT) services.
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