Robert W. Baird Issues Positive Forecast for AECOM (NYSE:ACM) Stock Price

AECOM (NYSE:ACM) had its price objective lifted by investment analysts at Robert W. Baird from $113.00 to $122.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target points to a potential upside of 11.44% from the stock’s current price.

ACM has been the topic of a number of other reports. StockNews.com upgraded shares of AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Citigroup boosted their target price on AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barclays increased their price target on AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their price objective on AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, KeyCorp lifted their price target on AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $116.43.

AECOM Stock Up 0.6 %

AECOM stock opened at $109.48 on Tuesday. The stock has a market capitalization of $14.68 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17. The business has a 50 day simple moving average of $105.19 and a 200-day simple moving average of $95.85. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 1.13. AECOM has a 12 month low of $82.23 and a 12 month high of $115.74.

AECOM (NYSE:ACM) last announced its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. AECOM had a net margin of 1.61% and a return on equity of 24.14%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 earnings per share. On average, analysts anticipate that AECOM will post 4.47 EPS for the current fiscal year.

AECOM declared that its Board of Directors has authorized a stock buyback program on Monday, November 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the completion of the transaction, the chief financial officer now owns 31,228 shares of the company’s stock, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ACM. PNC Financial Services Group Inc. grew its stake in shares of AECOM by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock valued at $977,000 after buying an additional 103 shares in the last quarter. CreativeOne Wealth LLC increased its stake in AECOM by 3.4% during the first quarter. CreativeOne Wealth LLC now owns 3,423 shares of the construction company’s stock worth $336,000 after purchasing an additional 114 shares during the period. Fifth Third Bancorp increased its stake in AECOM by 6.7% during the second quarter. Fifth Third Bancorp now owns 1,808 shares of the construction company’s stock worth $159,000 after purchasing an additional 114 shares during the period. CIBC Asset Management Inc lifted its position in shares of AECOM by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock worth $408,000 after purchasing an additional 132 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of AECOM by 4.7% in the second quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock valued at $273,000 after purchasing an additional 138 shares during the period. 85.41% of the stock is currently owned by institutional investors and hedge funds.

About AECOM

AECOM, together with its subsidiaries, provides professional infrastructure consulting services worldwide. It operates in three segments: Americas, International, and AECOM Capital. The company offers planning, consulting, architectural and engineering design, construction and program management, and investment and development services to public and private clients.