Aecom (ACM) Given Average Rating of “Hold” by Brokerages
Aecom (NYSE:ACM) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $30.38.
ACM has been the subject of several research reports. Citigroup reissued a “buy” rating and set a $4.00 price objective (down previously from $40.00) on shares of Aecom in a report on Friday, October 27th. Credit Suisse Group reissued a “neutral” rating on shares of Aecom in a report on Tuesday, November 14th. Barclays initiated coverage on shares of Aecom in a report on Tuesday, December 12th. They set an “underweight” rating and a $34.00 price objective for the company. Zacks Investment Research raised shares of Aecom from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, UBS Group reissued a “buy” rating and set a $4.00 price objective (down previously from $40.00) on shares of Aecom in a report on Tuesday, November 14th.
Shares of Aecom (NYSE ACM) traded up $0.01 during trading on Tuesday, reaching $38.29. 582,400 shares of the company traded hands, compared to its average volume of 780,260. The company has a market cap of $6,030.00, a P/E ratio of 17.98, a P/E/G ratio of 2.06 and a beta of 1.73. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20. Aecom has a one year low of $30.15 and a one year high of $39.50.
Aecom announced that its Board of Directors has initiated 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 often a sign that the company’s management believes its shares are undervalued.
In other news, Director James H. Fordyce sold 4,390 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $38.00, for a total transaction of $166,820.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Daniel R. Tishman sold 15,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $38.26, for a total transaction of $573,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 62,326 shares of company stock worth $2,390,904 over the last 90 days. Corporate insiders own 1.14% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ACM. Schwab Charles Investment Management Inc. raised its position in Aecom by 2.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 714,074 shares of the construction company’s stock worth $23,087,000 after purchasing an additional 20,388 shares during the period. Victory Capital Management Inc. increased its position in shares of Aecom by 21.2% during the second quarter. Victory Capital Management Inc. now owns 26,313 shares of the construction company’s stock worth $851,000 after acquiring an additional 4,611 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Aecom by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock worth $173,000 after acquiring an additional 576 shares during the period. Principal Financial Group Inc. increased its position in shares of Aecom by 3.3% during the second quarter. Principal Financial Group Inc. now owns 658,135 shares of the construction company’s stock worth $21,277,000 after acquiring an additional 20,953 shares during the period. Finally, Swiss National Bank increased its position in shares of Aecom by 2.0% during the second quarter. Swiss National Bank now owns 258,680 shares of the construction company’s stock worth $8,363,000 after acquiring an additional 5,000 shares during the period. 82.36% of the stock is currently owned by institutional investors.
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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