Robert W. Baird upgraded shares of Aecom (NYSE:ACM) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $45.00 price target on the construction company’s stock, up from their previous price target of $40.00.
ACM has been the subject of several other research reports. Zacks Investment Research upgraded shares of Aecom from a sell rating to a hold rating in a research report on Wednesday, November 15th. UBS Group reiterated a buy rating and set a $4.00 target price (down previously from $40.00) on shares of Aecom in a research report on Tuesday, November 14th. KeyCorp reiterated a buy rating on shares of Aecom in a research report on Friday, September 22nd. Argus boosted their price target on shares of Aecom from $37.00 to $43.00 and gave the company a buy rating in a report on Monday, November 27th. They noted that the move was a valuation call. Finally, Canaccord Genuity reissued a hold rating and issued a $36.00 price target on shares of Aecom in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $32.00.
Shares of Aecom (NYSE ACM) opened at $38.28 on Wednesday. The company has a market cap of $6,030.00, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 2.07 and a beta of 1.73. Aecom has a 1 year low of $30.15 and a 1 year high of $39.50. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88.
Aecom declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to buy up to 18.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Michael S. Burke sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $39.00, for a total value of $1,170,000.00. Following the completion of the transaction, the chief executive officer now owns 157,649 shares of the company’s stock, valued at approximately $6,148,311. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Daniel R. Tishman sold 15,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $38.26, for a total transaction of $573,900.00. The disclosure for this sale can be found here. Insiders sold a total of 62,326 shares of company stock valued at $2,390,904 in the last three months. 0.73% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crow Point Partners LLC acquired a new position in Aecom in the 3rd quarter worth $102,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Aecom by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock worth $173,000 after purchasing an additional 576 shares during the period. GAM Holding AG acquired a new position in Aecom in the 2nd quarter worth $194,000. CIBC Asset Management Inc acquired a new position in Aecom in the 3rd quarter worth $204,000. Finally, ING Groep NV acquired a new position in Aecom in the 3rd quarter worth $224,000. 82.36% of the stock is owned by hedge funds and other institutional investors.
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AECOM is engaged in designing, building, financing and operating infrastructure assets for governments, businesses and organizations. The Company’s segments include design and consulting services (DCS), construction services (CS) and management services (MS). Its DCS segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as transportation, facilities, environmental, energy, water and government.
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