AECOM (ACM) Rating Reiterated by Citigroup Inc.
AECOM (NYSE:ACM)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup Inc. in a note issued to investors on Friday. They currently have a $4.00 price objective on the construction company’s stock, down from their prior price objective of $40.00. Citigroup Inc.’s price objective would suggest a potential downside of 88.65% from the stock’s current price.
A number of other brokerages also recently issued reports on ACM. Robert W. Baird downgraded shares of AECOM from an “outperform” rating to a “neutral” rating and set a $4.00 price target on the stock. in a report on Tuesday, July 4th. KeyCorp reiterated a “buy” rating on shares of AECOM in a report on Friday, September 22nd. Zacks Investment Research upgraded shares of AECOM from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 19th. Canaccord Genuity reiterated a “hold” rating and issued a $36.00 price target on shares of AECOM in a report on Tuesday, August 8th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $37.00 price target on shares of AECOM in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $35.20.
AECOM (NYSE:ACM) traded up 0.17% on Friday, hitting $35.23. 482,045 shares of the stock were exchanged. The firm has a market cap of $5.52 billion, a P/E ratio of 21.57 and a beta of 1.69. The company has a 50-day moving average of $35.47 and a 200 day moving average of $33.34. AECOM has a 12 month low of $26.65 and a 12 month high of $40.72.
AECOM (NYSE:ACM) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.78 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.54 billion. AECOM had a net margin of 1.46% and a return on equity of 12.19%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. Equities research analysts expect that AECOM will post $2.91 earnings per share for the current fiscal year.
AECOM declared that its board has approved a share repurchase program on Thursday, September 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to purchase up to 18.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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In related news, CEO Michael S. Burke sold 56,800 shares of AECOM stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $36.86, for a total transaction of $2,093,648.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael S. Burke sold 30,000 shares of AECOM stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $37.00, for a total transaction of $1,110,000.00. Following the transaction, the chief executive officer now directly owns 154,362 shares of the company’s stock, valued at $5,711,394. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Financial Architects Inc boosted its stake in shares of AECOM by 1.0% during the 2nd quarter. Financial Architects Inc now owns 4,632 shares of the construction company’s stock worth $150,000 after purchasing an additional 48 shares during the period. First United Bank Trust boosted its stake in shares of AECOM by 0.7% during the 2nd quarter. First United Bank Trust now owns 6,770 shares of the construction company’s stock worth $219,000 after purchasing an additional 50 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in AECOM by 4.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 3,410 shares of the construction company’s stock valued at $122,000 after buying an additional 160 shares in the last quarter. Stifel Financial Corp lifted its holdings in AECOM by 4.2% during the 2nd 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 in the last quarter. Finally, Sii Investments Inc. WI lifted its holdings in AECOM by 3.5% during the 2nd 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 in the last quarter. 82.08% of the stock is owned by hedge funds and other institutional investors.
AECOM Company Profile
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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