Citigroup Lowers AECOM (NYSE:ACM) Price Target to $127.00

AECOM (NYSE:ACM) had its price target lowered by equities researchers at Citigroup from $128.00 to $127.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price objective suggests a potential upside of 20.47% from the stock’s previous close.

A number of other equities analysts have also weighed in on ACM. Truist Financial upped their target price on AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. The Goldman Sachs Group started coverage on shares of AECOM in a report on Friday, November 22nd. They set a “buy” rating and a $130.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. StockNews.com upgraded shares of AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Finally, KeyCorp cut their price target on AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $119.13.

AECOM Price Performance

Shares of ACM opened at $105.42 on Wednesday. The firm has a market cap of $13.98 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. AECOM has a 52-week low of $82.23 and a 52-week high of $118.56. The business’s 50 day moving average price is $110.31 and its two-hundred day moving average price is $103.66. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.13 and a current ratio of 1.13.

AECOM (NYSE:ACM) last released its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. On average, equities analysts anticipate that AECOM will post 5.08 EPS for the current year.

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

Insider Buying and Selling at AECOM

In other 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 directly owns 31,228 shares of the company’s stock, valued at $3,601,837.52. This represents a 57.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACM. Franklin Resources Inc. lifted its position in shares of AECOM by 1.5% during the third quarter. Franklin Resources Inc. now owns 6,162 shares of the construction company’s stock worth $655,000 after acquiring an additional 91 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in AECOM by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock worth $977,000 after purchasing an additional 103 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in AECOM by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,830 shares of the construction company’s stock valued at $809,000 after buying an additional 109 shares in the last quarter. Avitas Wealth Management LLC increased its position in shares of AECOM by 0.6% during the fourth quarter. Avitas Wealth Management LLC now owns 18,939 shares of the construction company’s stock valued at $2,023,000 after buying an additional 110 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of AECOM by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock valued at $408,000 after acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 85.41% of the company’s stock.

AECOM Company Profile

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.