AECOM (NYSE:ACM) Price Target Raised to $124.00

Key Points

• Bank of America raised AECOM's price target to $124.00, indicating a potential upside of 3.33% from its previous close.
• Citigroup also upgraded its outlook, setting a price target of $137.00, while other analysts showed positive ratings and targets ranging from $118.00 to $129.00.
• AECOM reported better-than-expected earnings of $1.34 EPS for the quarter, exceeding the consensus estimate of $1.25 EPS and marking a 6.2% year-over-year revenue increase.

AECOM (NYSE:ACM - Get Free Report) had its price target increased by research analysts at Bank of America from $112.50 to $124.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Bank of America's price objective suggests a potential upside of 3.33% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Citigroup restated a "buy" rating and set a $137.00 price objective (up from $122.00) on shares of AECOM in a research report on Monday, July 28th. Robert W. Baird raised their price objective on shares of AECOM from $108.00 to $118.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada raised their price objective on shares of AECOM from $123.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. KeyCorp raised their price objective on shares of AECOM from $120.00 to $129.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Truist Financial cut their price objective on shares of AECOM from $129.00 to $121.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $125.63.

AECOM Stock Performance

NYSE:ACM traded up $8.06 during mid-day trading on Tuesday, hitting $120.00. The stock had a trading volume of 501,629 shares, compared to its average volume of 995,228. AECOM has a twelve month low of $85.00 and a twelve month high of $121.73. The stock has a market cap of $15.88 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.80 and a beta of 0.99. The company's 50 day simple moving average is $112.44 and its 200 day simple moving average is $104.10. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.15 and a current ratio of 1.15.

AECOM (NYSE:ACM - Get Free Report) last issued its earnings results on Monday, August 4th. The construction company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.09. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $4.33 billion. AECOM had a net margin of 3.85% and a return on equity of 27.67%. AECOM's revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. On average, equities research analysts forecast that AECOM will post 5.1 earnings per share for the current year.

Institutional Trading of AECOM

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC bought a new stake in shares of AECOM in the first quarter worth $78,900,000. The Manufacturers Life Insurance Company grew its stake in shares of AECOM by 421.9% in the first quarter. The Manufacturers Life Insurance Company now owns 936,273 shares of the construction company's stock worth $86,821,000 after purchasing an additional 756,859 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AECOM by 34.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,680,258 shares of the construction company's stock worth $286,305,000 after purchasing an additional 691,020 shares during the last quarter. Northern Trust Corp grew its stake in shares of AECOM by 53.5% in the fourth quarter. Northern Trust Corp now owns 1,664,893 shares of the construction company's stock worth $177,844,000 after purchasing an additional 580,078 shares during the last quarter. Finally, Sandhill Capital Partners LLC bought a new stake in shares of AECOM in the fourth quarter worth $36,933,000. Institutional investors own 85.41% of the company's stock.

AECOM Company Profile

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.

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