Aecom Technology Corp. (NYSE:ACM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. Positive industry trends, especially in Building Construction, Management Services and Americas Design markets, indicate that the company stands to gain significantly in the near future. Also, robust backlog levels underscore its resiliency. However, 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. Moreover, location of the company’s operations in risk-prone areas makes it vulnerable to natural disasters.”
A number of other research analysts also recently weighed in on ACM. Citigroup Inc. reissued a “buy” rating and issued a $43.00 target price on shares of Aecom Technology Corp. in a report on Friday, September 30th. Canaccord Genuity reissued a “hold” rating and issued a $33.00 target price on shares of Aecom Technology Corp. in a report on Wednesday, September 7th. Deutsche Bank AG lowered their target price on Aecom Technology Corp. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, August 22nd. Argus reissued a “hold” rating on shares of Aecom Technology Corp. in a report on Thursday, August 18th. Finally, TheStreet raised Aecom Technology Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Aecom Technology Corp. currently has an average rating of “Buy” and an average price target of $36.18.
Aecom Technology Corp. (NYSE:ACM) opened at 27.94 on Monday. Aecom Technology Corp. has a one year low of $22.80 and a one year high of $36.20. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 48.85 and a beta of 1.79. The stock’s 50 day moving average price is $29.01 and its 200 day moving average price is $31.64.
Aecom Technology Corp. (NYSE:ACM) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.52 billion. Aecom Technology Corp. had a return on equity of 14.11% and a net margin of 0.51%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. Equities analysts predict that Aecom Technology Corp. will post $3.12 earnings per share for the current fiscal year.
In other Aecom Technology Corp. news, Vice Chairman Daniel R. Tishman sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $35.20, for a total transaction of $1,056,000.00. Following the transaction, the insider now owns 229,262 shares of the company’s stock, valued at $8,070,022.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael John Donnelly sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $36.00, for a total value of $205,200.00. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Reilly Financial Advisors LLC purchased a new position in shares of Aecom Technology Corp. during the second quarter valued at about $114,000. Daiwa Securities Group Inc. purchased a new position in shares of Aecom Technology Corp. during the second quarter valued at about $127,000. FCA Corp TX raised its position in shares of Aecom Technology Corp. by 21.4% in the second quarter. FCA Corp TX now owns 8,500 shares of the company’s stock valued at $270,000 after buying an additional 1,500 shares during the last quarter. Front Street Capital Management Inc. purchased a new position in shares of Aecom Technology Corp. during the second quarter valued at about $299,000. Finally, LS Investment Advisors LLC raised its position in shares of Aecom Technology Corp. by 73.3% in the second quarter. LS Investment Advisors LLC now owns 9,509 shares of the company’s stock valued at $302,000 after buying an additional 4,021 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors.
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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