Aecon Group (TSE:ARE) Given New C$61.00 Price Target at TD

Aecon Group (TSE:ARE) had its price objective reduced by equities researchers at TD from C$62.00 to C$61.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price target suggests a potential upside of 38.73% from the company’s current price.

A number of other research analysts have also weighed in on the stock. Royal Bank Of Canada lifted 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 research note on Thursday, April 30th. Canadian Imperial Bank of Commerce upped their price target on Aecon Group from C$45.00 to C$48.00 in a research report on Thursday, April 9th. Raymond James Financial lifted their price objective on Aecon Group from C$44.00 to C$54.00 in a report on Wednesday, April 29th. National Bank Financial increased their target price on Aecon Group from C$48.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Desjardins raised their price target on Aecon Group from C$45.00 to C$52.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$53.33.

Aecon Group Stock Performance

TSE:ARE traded up C$0.21 during midday trading on Friday, reaching C$43.97. 287,810 shares of the company traded hands, compared to its average volume of 480,258. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. Aecon Group has a twelve month low of C$17.06 and a twelve month high of C$57.72. The company has a fifty day moving average price of C$47.01 and a 200 day moving average price of C$40.34. The firm has a market capitalization of C$3.01 billion, a price-to-earnings ratio of 79.95, a price-to-earnings-growth ratio of 18.18 and a beta of 1.36.

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

Insider Activity at Aecon Group

In related news, insider Ernest Chan sold 521 shares of Aecon Group 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 value of C$28,701.89. Following the sale, the insider directly owned 11,003 shares in the company, valued at C$606,155.27. The trade was a 4.52% decrease in their ownership of the stock. Also, Director John Michael Beck sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of C$49.77, for a total transaction of C$995,400.00. Following the completion of the sale, the director owned 201,417 shares of the company’s stock, valued at C$10,024,524.09. This trade represents a 9.03% decrease in their position. Insiders have sold 23,451 shares of company stock worth $1,177,370 in the last quarter. Company 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.