More than 1.7 million shares of the company were traded by 2:35 p.m., more than double the average daily trading volume of about 700,000 shares a day. Shares of the company have increase 16.5% since June 26 despite no news coming from URS.
In a note to investors Stephens analyst Will Gabrielski said the gains are likely due to speculation of potential M&A activity. An URS takeover, the analyst notes, could potentially be in the $55 to $90 a share range.
The analyst maintained an "overweight" rating and a $54 price target for URS.
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TheStreet Ratings team rates URS CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate URS CORP (URS) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."