KeyCorp Lowers AECOM (NYSE:ACM) Price Target to $121.00

AECOM (NYSE:ACM) had its target price dropped by equities researchers at KeyCorp from $122.00 to $121.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price would suggest a potential upside of 12.89% from the stock’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Robert W. Baird boosted their price target on AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group began coverage on AECOM in a report on Friday, November 22nd. They set a “buy” rating and a $130.00 price target on the stock. Citigroup upped their price objective on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Truist Financial raised their target price on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $119.25.

AECOM Price Performance

Shares of NYSE ACM opened at $107.18 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $14.20 billion, a PE ratio of 36.21, a P/E/G ratio of 1.92 and a beta of 1.19. AECOM has a 1-year low of $82.23 and a 1-year high of $118.56. The business’s fifty day moving average price is $110.69 and its two-hundred day moving average price is $101.40.

AECOM (NYSE:ACM) last released its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. On average, research analysts expect that AECOM will post 5.1 EPS for the current year.

AECOM declared that its board has initiated a stock buyback program on Monday, November 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at AECOM

In related news, CFO Gaurav Kapoor sold 42,400 shares of AECOM stock in a transaction dated 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 transaction, the chief financial officer now owns 31,228 shares of the company’s stock, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACM. Franklin Resources Inc. raised its holdings in shares of AECOM by 1.5% during the third quarter. Franklin Resources Inc. now owns 6,162 shares of the construction company’s stock valued at $655,000 after acquiring an additional 91 shares during the period. PNC Financial Services Group Inc. raised its stake in AECOM by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock valued at $977,000 after purchasing an additional 103 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of AECOM by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock valued at $408,000 after purchasing an additional 132 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of AECOM by 4.1% in the third quarter. Ballentine Partners LLC now owns 3,992 shares of the construction company’s stock valued at $412,000 after purchasing an additional 158 shares in the last quarter. Finally, Caprock Group LLC boosted its position in shares of AECOM by 7.2% in the second quarter. Caprock Group LLC now owns 2,562 shares of the construction company’s stock worth $226,000 after buying an additional 173 shares during the period. 85.41% of the stock is currently owned by institutional investors and hedge funds.

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.