Zacks Investment Research lowered shares of AECOM (NYSE:ACM) from a buy rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “AECOM has been witnessing robust prospects across most of its business segments that adds to its growth momentum. Increase in the proportion of higher margin work is benefiting AECOM’s Construction Services segment and Management Services segments. Also, the Shimmick buyout is supplementing core revenue growth. Going forward, the company remains optimistic that favorable political climate both in the United States and abroad will continue to create growth opportunities of the infrastructure and defense markets. However, on the negative side, volatility in the oil and gas market with declining prices and contracting spending levels has been hurting the company’s projects and orders. Moreover, cyclical demand of the company’s services and currency fluctuations are likely to thwart growth, going forward.”
Other equities analysts have also issued reports about the company. Citigroup boosted their target price on AECOM from $44.00 to $47.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. DA Davidson boosted their target price on AECOM to $40.00 and gave the stock a neutral rating in a research report on Wednesday, February 7th. Robert W. Baird upgraded AECOM from a neutral rating to an outperform rating and boosted their target price for the stock from $40.00 to $45.00 in a research report on Wednesday, January 3rd. Finally, Barclays started coverage on AECOM in a research report on Tuesday, December 12th. They set an underweight rating and a $34.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. AECOM presently has an average rating of Hold and an average target price of $36.73.
AECOM (NYSE:ACM) last posted its earnings results on Tuesday, February 6th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.71 billion. AECOM had a return on equity of 11.74% and a net margin of 2.15%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. research analysts anticipate that AECOM will post 2.69 EPS for the current fiscal year.
In related news, Director Linda M. Griego sold 5,160 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $38.11, for a total value of $196,647.60. Following the completion of the transaction, the director now directly owns 33,335 shares in the company, valued at approximately $1,270,396.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Daniel R. Tishman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $37.00, for a total value of $555,000.00. Following the completion of the transaction, the insider now owns 114,095 shares of the company’s stock, valued at $4,221,515. The disclosure for this sale can be found here. Insiders sold a total of 40,136 shares of company stock valued at $1,517,467 over the last quarter. 0.74% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of ACM. Ladenburg Thalmann Financial Services Inc. lifted its stake in AECOM by 170.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,391 shares of the construction company’s stock valued at $201,000 after acquiring an additional 3,398 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in AECOM in the 4th quarter valued at approximately $205,000. Boston Advisors LLC bought a new stake in AECOM in the 4th quarter valued at approximately $206,000. Virtu Financial LLC bought a new stake in AECOM in the 4th quarter valued at approximately $213,000. Finally, Princeton Capital Management LLC bought a new stake in AECOM in the 4th quarter valued at approximately $220,000. Institutional investors and hedge funds own 84.01% of the company’s stock.
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AECOM, together with its subsidiaries, engages in designing, building, financing, and operating infrastructure assets worldwide. The company operates through four segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). The DCS segment provides planning, consulting, architectural and engineering design, program management, and construction management services for industrial, commercial, institutional, and government clients, such as transportation, facilities, environmental, and energy/power markets.
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