Citigroup Inc. restated their buy rating on shares of AECOM (NYSE:ACM) in a research note released on Friday. The firm currently has a $4.00 price target on the construction company’s stock, down from their previous price target of $40.00.
ACM has been the subject of several other research reports. Credit Suisse Group reaffirmed a buy rating and issued a $44.00 price objective on shares of AECOM in a report on Thursday, June 29th. KeyCorp reaffirmed a buy rating on shares of AECOM in a report on Friday, September 22nd. Robert W. Baird lowered AECOM from an outperform rating to a neutral rating and set a $4.00 price objective for the company. in a report on Tuesday, July 4th. Zacks Investment Research lowered AECOM from a hold rating to a sell rating in a report on Friday, July 21st. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $36.00 price objective on shares of AECOM in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. AECOM currently has an average rating of Hold and an average price target of $35.20.
AECOM (NYSE ACM) opened at 35.17 on Friday. The company has a market cap of $5.51 billion, a P/E ratio of 21.54 and a beta of 1.69. AECOM has a 1-year low of $26.65 and a 1-year high of $40.72. The stock’s 50 day moving average price is $35.52 and its 200 day moving average price is $33.36.
AECOM (NYSE:ACM) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.78 EPS 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 during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. AECOM’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that AECOM will post $2.91 earnings per share for the current fiscal year.
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AECOM declared that its board has authorized a share repurchase program on Thursday, September 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to reacquire up to 18.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Michael S. Burke sold 56,800 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $36.86, for a total value of $2,093,648.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael S. Burke sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $37.00, for a total value of $1,110,000.00. Following the completion of the transaction, the chief executive officer now directly owns 154,362 shares of the company’s stock, valued at approximately $5,711,394. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crow Point Partners LLC bought a new position in shares of AECOM in the third quarter worth about $102,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of AECOM by 4.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 3,410 shares of the construction company’s stock worth $122,000 after acquiring an additional 160 shares during the period. Financial Architects Inc boosted its stake in shares of AECOM by 1.0% in the second quarter. Financial Architects Inc now owns 4,632 shares of the construction company’s stock worth $150,000 after acquiring an additional 48 shares during the period. Global X Management Co. LLC boosted its stake in shares of AECOM by 220.7% in the second quarter. Global X Management Co. LLC now owns 4,923 shares of the construction company’s stock worth $159,000 after acquiring an additional 3,388 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AECOM by 12.0% in 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. 82.21% of the stock is owned by hedge funds and other 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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