Aecom (ACM) Now Covered by Analysts at Barclays
Investment analysts at Barclays started coverage on shares of Aecom (NYSE:ACM) in a research note issued to investors on Tuesday. The firm set an “underweight” rating and a $34.00 price target on the construction company’s stock. Barclays’ target price indicates a potential downside of 12.42% from the stock’s current price.
Several other research firms have also issued reports on ACM. Argus raised their price target on shares of Aecom from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, November 27th. They noted that the move was a valuation call. Canaccord Genuity restated a “hold” rating and issued a $36.00 price target on shares of Aecom in a research report on Tuesday, November 14th. DA Davidson restated a “hold” rating and issued a $39.00 price target on shares of Aecom in a research report on Tuesday, November 14th. UBS restated a “buy” rating and issued a $4.00 price target (down from $40.00) on shares of Aecom in a research report on Tuesday, November 14th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Aecom in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Aecom presently has a consensus rating of “Hold” and an average target price of $31.30.
Aecom (NYSE ACM) traded up $0.31 during midday trading on Tuesday, reaching $38.82. 1,064,700 shares of the company’s stock traded hands, compared to its average volume of 987,738. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.88. The firm has a market cap of $6,070.11, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 2.07 and a beta of 1.73. Aecom has a 52 week low of $30.15 and a 52 week high of $40.23.
Aecom announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 21st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 18.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other Aecom news, CEO Michael S. Burke sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $37.00, for a total value of $1,110,000.00. Following the transaction, the chief executive officer now directly owns 154,362 shares in the company, valued at $5,711,394. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael S. Burke sold 56,800 shares of the business’s 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 disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Crow Point Partners LLC acquired a new position in Aecom in the third quarter valued at about $102,000. Global X Management Co. LLC boosted its position in Aecom by 220.7% in the second quarter. Global X Management Co. LLC now owns 4,923 shares of the construction company’s stock valued at $159,000 after buying an additional 3,388 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Aecom by 12.0% in 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 in the last quarter. CIBC Asset Management Inc acquired a new position in Aecom in the third quarter valued at about $204,000. Finally, GAM Holding AG acquired a new position in Aecom in the second quarter valued at about $194,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.
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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