Bank of America Increases AECOM (NYSE:ACM) Price Target to $124.00

AECOM (NYSE:ACM) had its price target hoisted by equities researchers at Bank of America from $112.50 to $124.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would suggest a potential upside of 4.58% from the company’s current price.

Several other analysts have also recently issued reports on the company. Truist Financial reduced their price objective on AECOM from $129.00 to $121.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird increased their target price on AECOM from $108.00 to $118.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Royal Bank Of Canada increased their target price on AECOM from $123.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. KeyCorp increased their target price on AECOM from $120.00 to $129.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Citigroup reissued a “buy” rating and issued a $137.00 target price (up previously from $122.00) on shares of AECOM in a report on Monday, July 28th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $127.33.

AECOM Stock Down 0.4%

Shares of NYSE ACM opened at $118.57 on Tuesday. The stock has a market cap of $15.69 billion, a P/E ratio of 25.83, a PEG ratio of 1.90 and a beta of 0.99. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.00. AECOM has a 12-month low of $85.00 and a 12-month high of $121.73. The business’s fifty day simple moving average is $112.84 and its 200-day simple moving average is $104.30.

AECOM (NYSE:ACM) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.33 billion. AECOM had a return on equity of 28.70% and a net margin of 3.82%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. As a group, equities analysts predict that AECOM will post 5.1 EPS for the current fiscal year.

Hedge Funds Weigh In On AECOM

Hedge funds have recently made changes to their positions in the company. OneDigital Investment Advisors LLC purchased a new position in shares of AECOM during the first quarter worth about $256,000. Private Trust Co. NA grew its holdings in shares of AECOM by 37.2% during the first quarter. Private Trust Co. NA now owns 413 shares of the construction company’s stock worth $38,000 after purchasing an additional 112 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of AECOM by 3.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,790 shares of the construction company’s stock worth $722,000 after purchasing an additional 286 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of AECOM by 170.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,543 shares of the construction company’s stock worth $2,461,000 after purchasing an additional 16,718 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of AECOM by 5.0% during the fourth quarter. Wellington Management Group LLP now owns 12,602 shares of the construction company’s stock worth $1,346,000 after purchasing an additional 603 shares during the last quarter. Hedge funds and other 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.