Truist Financial Forecasts Strong Price Appreciation for AECOM (NYSE:ACM) Stock

AECOM (NYSE:ACM) had its target price raised by research analysts at Truist Financial from $119.00 to $129.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price suggests a potential upside of 10.91% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird increased their target price on AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Citigroup increased their price objective on AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group started coverage on shares of AECOM in a research report on Friday. They set a “buy” rating and a $130.00 target price on the stock. Barclays increased their price target on shares of AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada boosted their price objective on shares of AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AECOM presently has a consensus rating of “Buy” and an average target price of $119.38.

AECOM Stock Performance

Shares of ACM opened at $116.31 on Friday. The stock has a market capitalization of $15.41 billion, a P/E ratio of 39.29, a P/E/G ratio of 1.91 and a beta of 1.17. 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 has a 1 year low of $82.23 and a 1 year high of $116.76. The company’s fifty day moving average is $106.16 and its two-hundred day moving average is $96.20.

AECOM (NYSE:ACM) last issued its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share 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 the consensus estimate of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The business’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 predict that AECOM will post 5.1 earnings per share for the current year.

AECOM announced that its board has approved a stock repurchase plan on Monday, November 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total value of $4,890,416.00. Following the sale, the chief financial officer now directly owns 31,228 shares in the company, valued at $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACM. EntryPoint Capital LLC acquired a new stake in shares of AECOM during the 1st quarter worth about $25,000. Private Trust Co. NA purchased a new position in shares of AECOM during the third quarter valued at approximately $30,000. Family Firm Inc. acquired a new stake in AECOM during the second quarter worth approximately $31,000. True Wealth Design LLC grew its stake in AECOM by 4,242.9% in the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock worth $31,000 after acquiring an additional 297 shares during the period. Finally, UMB Bank n.a. raised its holdings in AECOM by 196.2% in the 3rd quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock valued at $40,000 after acquiring an additional 257 shares during the last quarter. Institutional investors and hedge funds own 85.41% of the company’s stock.

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.