Aecom Technology Corp. (ACM) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “AECOM has a decent earnings history, beating estimates thrice in the trailing four quarters. Factors like solid execution on projects and lower expenses from acquisitions & integration, have been fuelling the company’s bottom-line performance over the past few quarters. However, on the flip side, macroeconomic factors like strengthening of the U.S. dollar and unfavorable political & military conditions in certain end-markets pose as concerns. Continued volatility in the oil and gas market, with declining prices and contracting spending levels, is hurting the company’s projects and orders and can prove to be a major spoilsport. In addition, uncertainty associated with government contracts and the company’s operations in certain risk-prone areas raise caution. Moreover, demand for AECOM’s services is cyclical and hence, is largely vulnerable to reduction in government and private industrial spending.”
A number of other equities analysts have also recently weighed in on the stock. Citigroup Inc. reissued a buy rating and issued a $43.00 price objective on shares of Aecom Technology Corp. in a research report on Friday, September 30th. Canaccord Genuity reaffirmed a hold rating and set a $33.00 price target on shares of Aecom Technology Corp. in a research report on Wednesday, September 7th. Deutsche Bank AG reduced their price target on shares of Aecom Technology Corp. from $41.00 to $38.00 and set a buy rating on the stock in a research report on Monday, August 22nd. Argus reaffirmed a hold rating on shares of Aecom Technology Corp. in a research report on Thursday, August 18th. Finally, TheStreet raised shares of Aecom Technology Corp. from a hold rating to a buy rating in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $36.18.
Shares of Aecom Technology Corp. (NYSE:ACM) opened at 28.74 on Tuesday. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 50.24 and a beta of 1.79. The firm has a 50-day moving average price of $29.87 and a 200-day moving average price of $31.78. Aecom Technology Corp. has a one year low of $22.80 and a one year high of $36.20.
Aecom Technology Corp. (NYSE:ACM) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. The company earned $4.41 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Aecom Technology Corp. had a net margin of 0.51% and a return on equity of 14.11%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. Analysts anticipate that Aecom Technology Corp. will post $3.12 earnings per share for the current fiscal year.
In other Aecom Technology Corp. news, CEO Michael S. Burke sold 2,909 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $34.00, for a total value of $98,906.00. Following the sale, the chief executive officer now owns 108,562 shares in the company, valued at $3,691,108. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Daniel R. Tishman sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $35.20, for a total transaction of $1,056,000.00. Following the completion of the sale, the insider now owns 229,262 shares in the company, valued at approximately $8,070,022.40. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Reilly Financial Advisors LLC purchased a new stake in shares of Aecom Technology Corp. during the second quarter valued at approximately $114,000. Daiwa Securities Group Inc. bought a new position in Aecom Technology Corp. during the second quarter worth approximately $127,000. FCA Corp TX raised its position in Aecom Technology Corp. by 21.4% in the second quarter. FCA Corp TX now owns 8,500 shares of the company’s stock worth $270,000 after buying an additional 1,500 shares in the last quarter. Front Street Capital Management Inc. bought a new position in Aecom Technology Corp. during the second quarter worth approximately $299,000. Finally, LS Investment Advisors LLC raised its position in Aecom Technology Corp. by 73.3% in the second quarter. LS Investment Advisors LLC now owns 9,509 shares of the company’s stock worth $302,000 after buying an additional 4,021 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.
Aecom Technology Corp. Company Profile
AECOM, formerly AECOM Technology Corporation, designs, builds, finances and operates infrastructure assets for governments, businesses and organizations around the world. The Company provides program and facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and information technology (IT) services.
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