Zacks Investment Research Lowers AECOM (NYSE:ACM) to Sell

AECOM (NYSE:ACM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, July 21st.

According to Zacks, “AECOM has been suffering on account of uncertainties surrounding the Trump administration’s infrastructure spending plans. Concerns about economic growth are also hurting the company’s prospects. AECOM’s shares have underperformed the Zacks categorized Engineering/R&D Services industry average. Over the past one year, AECOM’s shares have underperformed the Zacks categorized Engineering/R&D Services industry average. Volatility in the oil and gas market, with declining prices and contracting spending levels, has been restraining the company’s projects and orders. Moreover, cyclical demand of the company’s services and currency fluctuations are likely to thwart growth, going forward. On the positive side, the company remains optimistic that favorable political climate will eventually drive solid growth of the infrastructure and defense markets globally.”

Several other equities research analysts have also recently weighed in on ACM. Robert W. Baird cut AECOM from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $40.00 in a research note on Friday, April 7th. Deutsche Bank AG restated a “hold” rating and set a $38.00 target price (down previously from $41.00) on shares of AECOM in a research report on Saturday, April 22nd. Argus dropped their target price on AECOM from $43.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, June 2nd. BidaskClub lowered AECOM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Finally, UBS AG set a $38.00 target price on AECOM and gave the company a “buy” rating in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $35.10.

Shares of AECOM (ACM) traded down 1.64% during midday trading on Friday, reaching $30.58. The company had a trading volume of 769,487 shares. The stock has a 50-day moving average of $32.11 and a 200 day moving average of $33.92. AECOM has a 52 week low of $26.46 and a 52 week high of $40.72. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 18.73 and a beta of 1.75.

AECOM (NYSE:ACM) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.78 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. AECOM had a return on equity of 12.19% and a net margin of 1.46%. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts anticipate that AECOM will post $2.92 earnings per share for the current year.

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A number of hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC bought a new stake in AECOM during the second quarter worth $861,000. Ameritas Investment Partners Inc. raised its stake in AECOM by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 46,604 shares of the construction company’s stock worth $1,507,000 after buying an additional 819 shares in the last quarter. Delphi Management Inc. MA bought a new stake in AECOM during the second quarter worth $640,000. Scotia Capital Inc. raised its stake in AECOM by 68.9% in the second quarter. Scotia Capital Inc. now owns 25,107 shares of the construction company’s stock worth $812,000 after buying an additional 10,239 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in AECOM during the second quarter worth $347,000. Institutional investors own 82.55% of the company’s stock.

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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