AECOM (NYSE:ACM) Price Target Lowered to $121.00 at KeyCorp

AECOM (NYSE:ACM) had its target price decreased by stock analysts at KeyCorp from $122.00 to $121.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective suggests a potential upside of 13.08% from the company’s current price.

Other equities analysts have also issued reports about the company. Citigroup increased their price target on AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their target price on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group initiated coverage on shares of AECOM in a research report on Friday, November 22nd. They issued a “buy” rating and a $130.00 price target on the stock. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Finally, Truist Financial increased their target price on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $119.25.

AECOM Stock Performance

ACM traded down $0.14 during trading on Wednesday, reaching $107.00. 551,376 shares of the company were exchanged, compared to its average volume of 562,355. AECOM has a 52 week low of $82.23 and a 52 week high of $118.56. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $110.69 and a 200 day moving average of $101.36. The stock has a market cap of $14.17 billion, a P/E ratio of 36.15, a PEG ratio of 1.92 and a beta of 1.19.

AECOM (NYSE:ACM) last posted its earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.46%. AECOM’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. On average, sell-side analysts forecast that AECOM will post 5.1 EPS for the current fiscal year.

AECOM announced that its board has authorized a share repurchase program on Monday, November 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at AECOM

In related news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total value 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 $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in AECOM by 12.5% in the 2nd quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company’s stock valued at $936,000 after purchasing an additional 1,180 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of AECOM by 5.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company’s stock valued at $26,714,000 after buying an additional 12,224 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AECOM by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock valued at $79,339,000 after buying an additional 220,035 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in AECOM by 60.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,051 shares of the construction company’s stock worth $2,296,000 after buying an additional 9,815 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in AECOM during the 3rd quarter worth about $495,000. 85.41% of the stock is owned by institutional investors.

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.