Aecom Technology Corp. (ACM) Stock Rating Upgraded by 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 to investors 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.”
Other analysts have also recently issued research reports about the company. Standpoint Research reaffirmed a “buy” rating on shares of Aecom Technology Corp. in a research report on Wednesday, July 27th. KeyCorp reaffirmed a “buy” rating on shares of Aecom Technology Corp. in a research report on Wednesday, June 29th. TheStreet raised Aecom Technology Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Deutsche Bank AG lowered their price target on Aecom Technology Corp. from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, August 22nd. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Aecom Technology Corp. in a research report on Friday, August 19th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $36.18.
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Shares of Aecom Technology Corp. (NYSE:ACM) traded up 0.83% on Monday, hitting $27.84. The stock had a trading volume of 995,150 shares. The company has a market cap of $4.28 billion, a P/E ratio of 48.67 and a beta of 1.79. Aecom Technology Corp. has a 12 month low of $22.80 and a 12 month high of $36.20. The company’s 50 day moving average price is $29.25 and its 200-day moving average price is $31.68.
Aecom Technology Corp. (NYSE:ACM) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.11. Aecom Technology Corp. had a return on equity of 14.11% and a net margin of 0.51%. The company earned $4.41 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. On average, analysts expect that Aecom Technology Corp. will post $3.12 earnings per share for the current year.
In other Aecom Technology Corp. news, insider Frederick W. Werner sold 27,787 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $27.83, for a total transaction of $773,312.21. Following the completion of the sale, the insider now directly owns 62,936 shares in the company, valued at approximately $1,751,508.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Daniel R. Tishman sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $35.20, for a total value of $1,056,000.00. Following the sale, the insider now owns 229,262 shares of the company’s stock, valued at $8,070,022.40. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of ACM. State Street Corp raised its stake in Aecom Technology Corp. by 1.7% in the first quarter. State Street Corp now owns 3,989,728 shares of the company’s stock valued at $122,842,000 after buying an additional 65,203 shares during the period. Panagora Asset Management Inc. raised its stake in Aecom Technology Corp. by 21.9% in the first quarter. Panagora Asset Management Inc. now owns 1,241,419 shares of the company’s stock valued at $38,223,000 after buying an additional 223,207 shares during the period. First Republic Investment Management Inc. purchased a new stake in Aecom Technology Corp. during the first quarter valued at approximately $1,924,000. BlackRock Fund Advisors raised its stake in Aecom Technology Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 4,934,824 shares of the company’s stock valued at $151,943,000 after buying an additional 12,509 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in Aecom Technology Corp. by 260.6% in the first quarter. Nuveen Asset Management LLC now owns 402,994 shares of the company’s stock valued at $12,408,000 after buying an additional 291,233 shares during the period. Institutional investors own 84.40% of the company’s stock.
Aecom Technology Corp. Company Profile
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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