KeyBanc Thinks Accenture’s Stock is Going to Recover

By Jason Carr

In a report released today, Arvind Ramnani from KeyBanc maintained a Buy rating on Accenture (ACNResearch Report), with a price target of $173. The company’s shares closed yesterday at $143.50, close to its 52-week low of $139.49.

According to TipRanks.com, Ramnani is a 4-star analyst with an average return of 5.6% and a 54.8% success rate. Ramnani covers the Technology sector, focusing on stocks such as DXC Technology Company, Epam Systems Inc, and Luxoft Holding.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Accenture with a $178.82 average price target, representing a 24.6% upside. In a report issued on December 13, Cantor Fitzgerald also maintained a Buy rating on the stock with a $193 price target.

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Accenture’s market cap is currently $91.7B and has a P/E ratio of 22.63. The company has a Price to Book ratio of 8.85.

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Accenture Plc is an investment holding company, which engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other.