Aecom Technology Corp. (NYSE:ACM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday.

According to Zacks, “AECOM’s fiscal fourth-quarter 2016 earnings missed the Zacks Consensus Estimate by 12.2% and were down 31.6% from the year-ago tally. A dismal top-line performance, largely attributable to macroeconomic sluggishness, affected the company’s earnings performance. Continued volatility in the oil and gas market, with declining prices and contracting spending levels, have been hurting the company’s projects and orders. In addition, unfavorable political conditions in certain end markets, pose as concerns. 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, subject to the vagaries of government and private industrial spending. However, we believe positive industry trends, robust backlog levels and the company’s dominant position in each market, bode well for long-run growth.”

ACM has been the topic of a number of other reports. Standpoint Research reissued a “buy” rating on shares of Aecom Technology Corp. in a research report on Wednesday, July 27th. Citigroup Inc. reissued a “buy” rating and set a $43.00 price objective on shares of Aecom Technology Corp. in a research report on Friday, September 30th. TheStreet downgraded shares of Aecom Technology Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Deutsche Bank AG reduced their price objective on shares of Aecom Technology Corp. from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, August 22nd. Finally, Argus reissued a “hold” rating on shares of Aecom Technology Corp. in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $37.00.

Analyst Recommendations for Aecom Technology Corp. (NYSE:ACM)

Shares of Aecom Technology Corp. (NYSE:ACM) opened at 36.70 on Thursday. Aecom Technology Corp. has a 12 month low of $22.80 and a 12 month high of $37.62. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 59.19 and a beta of 1.80. The firm has a 50-day moving average of $28.45 and a 200 day moving average of $31.35.

Aecom Technology Corp. (NYSE:ACM) last issued its quarterly earnings data on Monday, November 14th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.06. The company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Aecom Technology Corp. had a net margin of 0.55% and a return on equity of 12.92%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. On average, analysts expect that Aecom Technology Corp. will post $2.90 earnings per share for the current year.

In related news, insider Frederick W. Werner sold 27,787 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $27.83, for a total transaction of $773,312.21. Following the sale, the insider now directly owns 62,936 shares of the company’s stock, valued at approximately $1,751,508.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick W. Werner sold 3,000 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $37.00, for a total transaction of $111,000.00. Following the sale, the insider now directly owns 38,149 shares in the company, valued at $1,411,513. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Advantus Capital Management Inc increased its stake in shares of Aecom Technology Corp. by 0.7% in the third quarter. Advantus Capital Management Inc now owns 18,706 shares of the company’s stock valued at $556,000 after buying an additional 132 shares during the period. LS Investment Advisors LLC increased its stake in shares of Aecom Technology Corp. by 5.8% in the third quarter. LS Investment Advisors LLC now owns 10,057 shares of the company’s stock valued at $299,000 after buying an additional 548 shares during the period. Arizona State Retirement System increased its stake in shares of Aecom Technology Corp. by 1.1% in the first quarter. Arizona State Retirement System now owns 72,601 shares of the company’s stock valued at $2,235,000 after buying an additional 800 shares during the period. FCA Corp TX increased its stake in shares of 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 during the period. Finally, Boston Advisors LLC increased its stake in shares of Aecom Technology Corp. by 2.6% in the third quarter. Boston Advisors LLC now owns 96,502 shares of the company’s stock valued at $2,869,000 after buying an additional 2,409 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Aecom Technology Corp. Company Profile

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.

5 Day Chart for NYSE:ACM

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