Aecom (NYSE:ACM) Lifted to Buy at Bank of America

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Bank of America upgraded shares of Aecom (NYSE:ACM) from a neutral rating to a buy rating in a research report released on Monday morning, The Fly reports. The firm currently has $45.00 target price on the construction company’s stock, up from their previous target price of $37.00.

Other equities research analysts also recently issued reports about the stock. Barclays raised shares of Aecom from an underweight rating to an overweight rating and boosted their target price for the stock from $30.00 to $38.00 in a research report on Monday, August 19th. Deutsche Bank boosted their target price on shares of Aecom from $34.00 to $38.00 and gave the stock a hold rating in a research report on Tuesday, June 18th. ValuEngine downgraded shares of Aecom from a buy rating to a hold rating in a research report on Thursday, August 1st. Credit Suisse Group boosted their target price on shares of Aecom from $32.00 to $39.00 and gave the stock a neutral rating in a research report on Tuesday, June 18th. Finally, Argus raised shares of Aecom from a hold rating to a buy rating and set a $44.00 target price for the company in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $41.10.

Shares of NYSE ACM opened at $41.18 on Monday. The firm’s 50-day moving average price is $37.28 and its 200-day moving average price is $34.85. Aecom has a 1-year low of $24.83 and a 1-year high of $41.25. The firm has a market capitalization of $6.49 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.31 and a beta of 1.72. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.81.

Aecom (NYSE:ACM) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $5.25 billion. Aecom had a net margin of 1.46% and a return on equity of 10.27%. Aecom’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. Equities research analysts forecast that Aecom will post 2.77 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Advisory Services Network LLC grew its position in Aecom by 310.2% in the 2nd quarter. Advisory Services Network LLC now owns 1,005 shares of the construction company’s stock worth $38,000 after purchasing an additional 760 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in Aecom in the second quarter valued at about $76,000. Sound Income Strategies LLC purchased a new position in Aecom in the second quarter valued at about $155,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Aecom by 47.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,508 shares of the construction company’s stock valued at $171,000 after acquiring an additional 1,457 shares during the last quarter. Finally, Loews Corp purchased a new position in Aecom in the second quarter valued at about $207,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Aecom Company Profile

AECOM, together with its subsidiaries, engages in designing, building, financing, and operating infrastructure assets worldwide. It operates through four segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). The DCS segment offers planning, consulting, architectural and engineering design, program management, and construction management services for industrial, commercial, institutional, and government clients, including the transportation, facilities, environmental, energy, and water markets.

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Analyst Recommendations for Aecom (NYSE:ACM)

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