AECOM (NYSE:ACM)‘s stock had its “buy” rating reissued by research analysts at Citigroup Inc. in a report issued on Friday, October 27th. They presently have a $4.00 target price on the construction company’s stock, down from their prior target price of $40.00. Citigroup Inc.’s price target would indicate a potential downside of 88.76% from the stock’s previous close.
Several other equities research analysts also recently commented on ACM. Credit Suisse Group reissued a “buy” rating and issued a $44.00 target price on shares of AECOM in a report on Thursday, June 29th. Robert W. Baird downgraded AECOM from an “outperform” rating to a “neutral” rating and set a $4.00 target price on the stock. in a report on Tuesday, July 4th. Zacks Investment Research downgraded AECOM from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Canaccord Genuity reissued a “hold” rating and issued a $36.00 target price on shares of AECOM in a report on Tuesday, August 8th. Finally, KeyCorp restated a “buy” rating and issued a $40.00 price target on shares of AECOM in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $35.20.
Shares of AECOM (NYSE ACM) opened at $35.59 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.96. AECOM has a 1-year low of $30.15 and a 1-year high of $40.72. The company has a market capitalization of $5,580.00, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.89 and a beta of 1.71.
AECOM declared that its board has authorized a stock buyback program on Thursday, September 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to buy up to 18.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, CEO Michael S. Burke sold 30,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 154,362 shares in the company, valued at $5,711,394. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael S. Burke sold 56,800 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $36.86, for a total value of $2,093,648.00. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Crow Point Partners LLC purchased a new stake in AECOM during the third quarter valued at $102,000. Nomura Asset Management Co. Ltd. increased its position in AECOM by 4.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 3,410 shares of the construction company’s stock valued at $122,000 after acquiring an additional 160 shares during the last quarter. Financial Architects Inc increased its position in AECOM by 1.0% during the second quarter. Financial Architects Inc now owns 4,632 shares of the construction company’s stock valued at $150,000 after acquiring an additional 48 shares during the last quarter. Global X Management Co. LLC increased its position in AECOM by 220.7% during the second quarter. Global X Management Co. LLC now owns 4,923 shares of the construction company’s stock valued at $159,000 after acquiring an additional 3,388 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in AECOM by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock valued at $173,000 after acquiring an additional 576 shares during the last quarter. Institutional investors own 82.07% 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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