Aecom (ACM) Is A Top Stock For US Manufacturing Reshoring, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Warned About Samsung’s Phones. AECOM (NYSE:ACM) is one of the stocks Jim Cramer recently discussed.

AECOM (NYSE:ACM) is an American infrastructure consulting firm based in Texas. Its shares have gained 12% year-to-date and jumped by 6.3% in August after the firm’s fiscal third quarter earnings. The results saw the firm’s $1.34 in EPS and $4.178 billion in revenue beat analyst estimates of $1.26 for the EPS and miss the estimates of $4.30 billion. After the results, analysts from Keybanc and UBS raised Aecom (NYSE:ACM)’s share price targets to further stimulate the stock. Cramer also believes that the firm is a key play to benefit from data center construction and US manufacturing re-shoring:

“. . .people are looking for ways to be able to play the reshoring. The best ways are Aecom . . .But Aecom and Jacobs go. . .”

A worker in a hard hat and safety gear overseeing the construction of a major energy project.

During its earnings call, AECOM (NYSE:ACM)’s management commented on its business tailwinds:

“Infrastructure enjoys strong bipartisan support across all of our markets and is an essential element of thriving economies. Fourth, we are investing to accelerate organic growth and expand our competitive advantage. This includes ongoing additions to our advisory and program management teams to meet growing demand as our clients navigate greater regulatory uncertainty and larger investments. This is consistent with our long-term objective of delivering 50% of revenue from advisory and program management over time.”

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Disclosure: None. This article is originally published at Insider Monkey.