Robert W. Baird Forecasts Strong Price Appreciation for AECOM (NYSE:ACM) Stock

AECOM (NYSE:ACM) had its target price upped by investment analysts at Robert W. Baird from $113.00 to $122.00 in a report issued 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.

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

AECOM Price Performance

NYSE:ACM opened at $109.19 on Tuesday. The company has a 50-day moving average of $104.62 and a 200-day moving average of $95.65. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 58.70, a PEG ratio of 1.61 and a beta of 1.17. AECOM has a 52 week low of $82.23 and a 52 week high of $115.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.13.

AECOM announced that its Board of Directors has approved a stock repurchase program on Monday, November 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of AECOM stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the completion of the sale, the chief financial officer now owns 31,228 shares in the company, valued at $3,601,837.52. The trade was a 57.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. TD Private Client Wealth LLC acquired a new position in shares of AECOM in the third quarter valued at approximately $177,000. Teachers Retirement System of The State of Kentucky lifted its stake in AECOM by 15.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 137,918 shares of the construction company’s stock valued at $14,243,000 after acquiring an additional 18,810 shares during the last quarter. Toronto Dominion Bank lifted its stake in AECOM by 29.5% in the third quarter. Toronto Dominion Bank now owns 17,986 shares of the construction company’s stock valued at $1,857,000 after acquiring an additional 4,102 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in AECOM by 29.3% in the third quarter. Coldstream Capital Management Inc. now owns 7,958 shares of the construction company’s stock valued at $823,000 after acquiring an additional 1,805 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of AECOM by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,270,408 shares of the construction company’s stock worth $233,918,000 after buying an additional 14,511 shares during the last quarter. Institutional investors and hedge funds 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.