Aecon Group (TSE:ARE) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Aecon Group Inc. (TSE:ARE)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$39.20 and traded as high as C$43.44. Aecon Group shares last traded at C$42.40, with a volume of 868,778 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ARE. Royal Bank Of Canada increased their price objective on shares of Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. National Bank Financial lifted their price target on Aecon Group from C$48.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. BMO Capital Markets lifted their target price on Aecon Group from C$45.00 to C$49.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. TD Securities upped their price target on shares of Aecon Group from C$47.00 to C$49.00 and gave the company a “buy” rating in a report on Monday, March 30th. Finally, TD lifted their price objective on shares of Aecon Group from C$49.00 to C$59.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$52.29.

Aecon Group Stock Performance

The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. The firm has a market capitalization of C$2.90 billion, a PE ratio of 77.09, a P/E/G ratio of 18.18 and a beta of 1.36. The firm has a fifty day moving average price of C$47.00 and a 200 day moving average price of C$39.20.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Tuesday, April 28th. The company reported C($0.21) EPS for the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. The firm had revenue of C$1.26 billion for the quarter. Research analysts anticipate that Aecon Group Inc. will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 23rd. Aecon Group’s dividend payout ratio (DPR) is 138.64%.

Insiders Place Their Bets

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of the company’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the transaction, the director owned 184,200 shares in the company, valued at C$7,670,088. This represents a 40.43% decrease in their position. Also, insider Ernest Chan sold 521 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the completion of the sale, the insider directly owned 11,003 shares of the company’s stock, valued at C$606,155.27. This trade represents a 4.52% decrease in their ownership of the stock. Insiders sold a total of 148,451 shares of company stock valued at $6,382,370 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.