Robert W. Baird Issues Positive Forecast for AECOM (NYSE:ACM) Stock Price

AECOM (NYSE:ACM) had its price target upped by research analysts at Robert W. Baird from $113.00 to $122.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target points to a potential upside of 11.73% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Truist Financial lifted their price target on shares of AECOM from $108.00 to $119.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Barclays boosted their price target on AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their price objective on shares of AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. KeyCorp boosted their price objective on shares of AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $116.43.

AECOM Price Performance

Shares of ACM opened at $109.19 on Tuesday. AECOM has a twelve month low of $82.23 and a twelve month high of $115.74. The stock’s 50 day moving average is $104.62 and its two-hundred day moving average is $95.65. The firm has a market capitalization of $14.64 billion, a PE ratio of 58.70, a P/E/G ratio of 1.61 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98.

AECOM declared that its board has initiated a share repurchase plan on Monday, November 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at AECOM

In related news, CFO Gaurav Kapoor sold 42,400 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total value of $4,890,416.00. Following the transaction, the chief financial officer now directly owns 31,228 shares in the company, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp grew its position in AECOM by 12.5% in the 2nd quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company’s stock worth $936,000 after purchasing an additional 1,180 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in AECOM in the 1st quarter worth $1,085,000. Plato Investment Management Ltd acquired a new stake in AECOM in the 1st quarter worth $741,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of AECOM by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 87,301 shares of the construction company’s stock worth $8,564,000 after acquiring an additional 6,003 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of AECOM by 24.3% during the 2nd quarter. SG Americas Securities LLC now owns 203,281 shares of the construction company’s stock worth $17,917,000 after acquiring an additional 39,801 shares during the period. 85.41% of the stock is currently owned by institutional investors and hedge funds.

About AECOM

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.