KeyCorp Has Lowered Expectations for AECOM (NYSE:ACM) Stock Price

AECOM (NYSE:ACM) had its price target lowered by equities researchers at KeyCorp from $122.00 to $121.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target would indicate a potential upside of 12.89% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on ACM. Citigroup raised their target price on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on shares of AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Truist Financial increased 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 initiated coverage on AECOM in a research report on Friday, November 22nd. They set a “buy” rating and a $130.00 price target for the company. Finally, StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $119.25.

AECOM Trading Up 0.0 %

Shares of ACM opened at $107.18 on Wednesday. AECOM has a fifty-two week low of $82.23 and a fifty-two week high of $118.56. The stock has a fifty day moving average of $110.69 and a two-hundred day moving average of $101.40. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $14.20 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19.

AECOM (NYSE:ACM) last released its earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.24 by $0.03. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that AECOM will post 5.1 EPS for the current year.

AECOM declared that its board has authorized a share repurchase plan on Monday, November 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the firm’s stock in a transaction 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 trade represents a 57.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On AECOM

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in AECOM during the third quarter valued at approximately $42,201,000. DekaBank Deutsche Girozentrale raised its position in shares of AECOM by 67.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 808,192 shares of the construction company’s stock valued at $71,897,000 after acquiring an additional 326,423 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AECOM by 17.0% during the third 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 worth $205,429,000 after purchasing an additional 289,513 shares during the last quarter. National Bank of Canada FI boosted its holdings in AECOM by 1,847.8% in the third quarter. National Bank of Canada FI now owns 274,857 shares of the construction company’s stock worth $28,384,000 after purchasing an additional 260,746 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in AECOM by 40.1% during the third quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock valued at $79,339,000 after purchasing an additional 220,035 shares during the last quarter. Institutional investors 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.