AECOM (ACM) Stock Rating Reaffirmed by Robert W. Baird
AECOM (NYSE:ACM)‘s stock had its “neutral” rating reissued by analysts at Robert W. Baird in a note issued to investors on Friday. They currently have a $38.00 price target on the construction company’s stock, up from their previous price target of $36.00. Robert W. Baird’s price target points to a potential upside of 6.92% from the company’s previous close.
A number of other research analysts have also commented on ACM. Argus lowered their price target on AECOM from $43.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, June 2nd. BidaskClub lowered AECOM from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. UBS AG set a $38.00 price target on AECOM and gave the company a “buy” rating in a report on Monday, June 26th. Credit Suisse Group reissued a “buy” rating and set a $44.00 price target on shares of AECOM in a report on Thursday, June 29th. Finally, Citigroup Inc. reissued a “buy” rating and set a $40.00 price target (down from $45.00) on shares of AECOM in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. AECOM has a consensus rating of “Hold” and a consensus target price of $38.64.
AECOM (NYSE:ACM) last issued its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.54 billion. AECOM had a return on equity of 12.19% and a net margin of 1.46%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share.
AECOM declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 18.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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A number of hedge funds have recently made changes to their positions in the stock. J.P. Marvel Investment Advisors LLC boosted its stake in AECOM by 18.3% during the second quarter. J.P. Marvel Investment Advisors LLC now owns 25,820 shares of the construction company’s stock valued at $835,000 after buying an additional 4,000 shares in the last quarter. Verition Fund Management LLC bought a new position in AECOM during the second quarter valued at about $861,000. Ameritas Investment Partners Inc. boosted its stake in AECOM by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 46,604 shares of the construction company’s stock valued at $1,507,000 after buying an additional 819 shares in the last quarter. Delphi Management Inc. MA bought a new position in AECOM during the second quarter valued at about $640,000. Finally, Scotia Capital Inc. boosted its stake in AECOM by 68.9% during the second quarter. Scotia Capital Inc. now owns 25,107 shares of the construction company’s stock valued at $812,000 after buying an additional 10,239 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.
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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