Aecom Technology Corp. (NYSE:ACM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “AECOM has a decent earnings history, beating estimates thrice in the trailing four quarters. Factors like solid execution on projects and lower expenses from acquisitions & integration, have been fuelling the company’s bottom-line performance over the past few quarters. However, on the flip side, macroeconomic factors like strengthening of the U.S. dollar and unfavorable political & military conditions in certain end-markets pose as concerns. Continued volatility in the oil and gas market, with declining prices and contracting spending levels, is hurting the company’s projects and orders and can prove to be a major spoilsport. In addition, uncertainty associated with government contracts and the company’s operations in certain risk-prone areas raise caution. Moreover, demand for AECOM’s services is cyclical and hence, is largely vulnerable to reduction in government and private industrial spending.”
A number of other brokerages have also recently commented on ACM. Citigroup Inc. set a $43.00 price target on shares of Aecom Technology Corp. and gave the company a “buy” rating in a research note on Friday, September 23rd. TheStreet upgraded shares of Aecom Technology Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Canaccord Genuity reiterated a “hold” rating and issued a $33.00 price target on shares of Aecom Technology Corp. in a research note on Wednesday, September 7th. KeyCorp reiterated a “buy” rating on shares of Aecom Technology Corp. in a research note on Wednesday, June 29th. Finally, DA Davidson increased their price target on shares of Aecom Technology Corp. from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $36.18.
Shares of Aecom Technology Corp. (NYSE:ACM) opened at 28.74 on Tuesday. The company has a market cap of $4.42 billion, a PE ratio of 50.24 and a beta of 1.79. Aecom Technology Corp. has a 1-year low of $22.80 and a 1-year high of $36.20. The company has a 50-day moving average of $29.87 and a 200-day moving average of $31.78.
Aecom Technology Corp. (NYSE:ACM) last released its earnings results on Tuesday, August 9th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. The business earned $4.41 billion during the quarter, compared to the consensus estimate of $4.52 billion. Aecom Technology Corp. had a net margin of 0.51% and a return on equity of 14.11%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Equities analysts forecast that Aecom Technology Corp. will post $3.12 EPS for the current year.
In other Aecom Technology Corp. news, CEO Michael S. Burke sold 2,909 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $34.00, for a total value of $98,906.00. Following the transaction, the chief executive officer now directly owns 108,562 shares of the company’s stock, valued at approximately $3,691,108. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael John Donnelly sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $36.00, for a total transaction of $205,200.00. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Reilly Financial Advisors LLC purchased a new position in Aecom Technology Corp. during the second quarter valued at approximately $114,000. Daiwa Securities Group Inc. purchased a new position in Aecom Technology Corp. during the second quarter valued at approximately $127,000. FCA Corp TX raised its position in Aecom Technology Corp. by 21.4% in the second quarter. FCA Corp TX now owns 8,500 shares of the company’s stock valued at $270,000 after buying an additional 1,500 shares in the last quarter. Front Street Capital Management Inc. purchased a new position in Aecom Technology Corp. during the second quarter valued at approximately $299,000. Finally, LS Investment Advisors LLC raised its position in Aecom Technology Corp. by 73.3% in the second quarter. LS Investment Advisors LLC now owns 9,509 shares of the company’s stock valued at $302,000 after buying an additional 4,021 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.
About Aecom Technology Corp.
AECOM, formerly AECOM Technology Corporation, designs, builds, finances and operates infrastructure assets for governments, businesses and organizations around the world. The Company provides program and facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and information technology (IT) services.