AECOM (NYSE:ACM) Price Target Raised to $129.00 at Truist Financial

AECOM (NYSE:ACM) had its price objective boosted by research analysts at Truist Financial from $119.00 to $129.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 11.08% from the company’s current price.

Other equities analysts have also issued reports about the stock. Citigroup increased their price objective on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays raised their price target on shares of AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird lifted their price objective on shares of AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday. StockNews.com raised AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Finally, Royal Bank of Canada lifted their price target on AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, AECOM currently has a consensus rating of “Buy” and a consensus price target of $119.38.

AECOM Stock Performance

Shares of ACM stock opened at $116.13 on Friday. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 1.64 and a beta of 1.17. AECOM has a 52-week low of $82.23 and a 52-week high of $116.13. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average is $105.79 and its 200 day moving average is $96.06.

AECOM (NYSE:ACM) last posted 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 company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. AECOM had a return on equity of 25.28% and a net margin of 2.50%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, sell-side analysts anticipate that AECOM will post 4.95 EPS for the current fiscal year.

AECOM announced that its board has approved a stock buyback program on Monday, November 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally 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 firm’s 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 transaction, the chief financial officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On AECOM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ninety One UK Ltd acquired a new position in shares of AECOM during the 2nd quarter valued at about $46,109,000. International Assets Investment Management LLC purchased a new position in AECOM during the third quarter worth about $42,201,000. DekaBank Deutsche Girozentrale boosted its holdings in AECOM by 451.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 481,769 shares of the construction company’s stock valued at $47,617,000 after purchasing an additional 394,481 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AECOM by 17.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,989,238 shares of the construction company’s stock valued at $205,429,000 after buying an additional 289,513 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of AECOM by 1,847.8% during the 3rd quarter. National Bank of Canada FI now owns 274,857 shares of the construction company’s stock worth $28,384,000 after buying an additional 260,746 shares during the last quarter. Institutional investors and hedge funds 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.