Aecom Technology Corp. (ACM) Downgraded by Zacks Investment Research
Aecom Technology Corp. (NYSE:ACM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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.”
Several other equities analysts also recently commented on ACM. KeyCorp reiterated a “buy” rating on shares of Aecom Technology Corp. in a report on Wednesday, June 29th. Argus reiterated a “hold” rating on shares of Aecom Technology Corp. in a report on Thursday, August 18th. DA Davidson upped their price target on shares of Aecom Technology Corp. from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 10th. Citigroup Inc. reiterated a “buy” rating and set a $43.00 price target on shares of Aecom Technology Corp. in a report on Friday. Finally, TheStreet upgraded shares of Aecom Technology Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Aecom Technology Corp. presently has a consensus rating of “Buy” and an average target price of $36.18.
Aecom Technology Corp. (NYSE:ACM) traded down 1.168% during trading on Tuesday, hitting $29.363. 284,133 shares of the stock traded hands. Aecom Technology Corp. has a 12 month low of $22.80 and a 12 month high of $36.20. The firm has a market cap of $4.51 billion, a PE ratio of 51.334 and a beta of 1.79. The firm has a 50-day moving average price of $30.33 and a 200 day moving average price of $31.85.
Aecom Technology Corp. (NYSE:ACM) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.70 by $0.11. The company had revenue of $4.41 billion for 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 was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. On average, equities analysts forecast that Aecom Technology Corp. will post $3.12 EPS for the current fiscal year.
In related news, Vice Chairman Daniel R. Tishman sold 18,478 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $32.41, for a total transaction of $598,871.98. Following the completion of the sale, the insider now owns 259,262 shares of the company’s stock, valued at $8,402,681.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael S. Burke sold 2,909 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $34.00, for a total transaction of $98,906.00. Following the sale, the chief executive officer now directly owns 108,562 shares of the company’s stock, valued at approximately $3,691,108. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of ACM. Reilly Financial Advisors LLC purchased a new stake in Aecom Technology Corp. during the second quarter worth approximately $114,000. Daiwa Securities Group Inc. purchased a new stake in Aecom Technology Corp. during the second quarter worth approximately $127,000. FCA Corp TX boosted its stake in Aecom Technology Corp. by 21.4% in the second quarter. FCA Corp TX now owns 8,500 shares of the company’s stock worth $270,000 after buying an additional 1,500 shares during the last quarter. Front Street Capital Management Inc. purchased a new stake in Aecom Technology Corp. during the second quarter worth approximately $299,000. Finally, LS Investment Advisors LLC boosted its stake 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 worth $302,000 after buying an additional 4,021 shares during the last quarter. 84.46% of the stock is owned by 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.
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