Robert W. Baird Forecasts Strong Price Appreciation for AECOM (NYSE:ACM) Stock

AECOM (NYSE:ACM) had its price objective upped by research analysts at Robert W. Baird from $113.00 to $122.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective indicates a potential upside of 11.44% from the company’s previous close.

Several other brokerages also recently issued reports on ACM. KeyCorp raised their price objective on shares of AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com raised AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Citigroup boosted their price objective on AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Truist Financial increased their target price on AECOM from $108.00 to $119.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Barclays boosted their target price on shares of AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $116.43.

AECOM Price Performance

Shares of AECOM stock opened at $109.48 on Tuesday. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day moving average price of $105.19 and a 200-day moving average price of $95.85. AECOM has a one year low of $82.23 and a one year high of $115.74.

AECOM (NYSE:ACM) last posted its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. AECOM had a net margin of 1.61% and a return on equity of 24.14%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. AECOM’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that AECOM will post 4.47 EPS for the current year.

AECOM declared that its board has approved a share repurchase plan on Monday, November 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CFO Gaurav Kapoor sold 42,400 shares of AECOM stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.42% of the company’s stock.

Institutional Trading of AECOM

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its position in shares of AECOM by 12.5% during the second quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company’s stock valued at $936,000 after buying an additional 1,180 shares during the last quarter. Acadian Asset Management LLC acquired a new position in AECOM in the 1st quarter worth approximately $1,085,000. Plato Investment Management Ltd acquired a new stake in shares of AECOM in the first quarter worth $741,000. Price T Rowe Associates Inc. MD raised its stake in shares of AECOM by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 87,301 shares of the construction company’s stock valued at $8,564,000 after buying an additional 6,003 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in AECOM by 24.3% during the second quarter. SG Americas Securities LLC now owns 203,281 shares of the construction company’s stock valued at $17,917,000 after acquiring an additional 39,801 shares in 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.