Aecon Group (TSE:ARE) Price Target Raised to C$65.00

Aecon Group (TSE:ARE) had its price objective lifted by Raymond James Financial from C$60.00 to C$65.00 in a research report released on Friday morning,BayStreet reports. They currently have an outperform rating on the stock.

ARE has been the topic of several other reports. Desjardins lifted their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the company a “hold” rating in a report on Monday, July 6th. National Bank Financial raised their price objective on Aecon Group from C$64.00 to C$66.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$55.58.

Aecon Group Trading Down 7.9%

Shares of ARE stock opened at C$49.23 on Friday. The firm has a 50-day moving average price of C$49.31 and a 200 day moving average price of C$45.25. The company has a market capitalization of C$3.38 billion, a price-to-earnings ratio of -63.94, a PEG ratio of 18.18 and a beta of 1.16. Aecon Group has a twelve month low of C$25.05 and a twelve month high of C$59.96. The company has a current ratio of 1.10, a quick ratio of 1.27 and a debt-to-equity ratio of 56.97.

Aecon Group (TSE:ARE) last announced its quarterly earnings results on Thursday, October 29th. The company reported C$0.86 earnings per share (EPS) for the quarter. The business had revenue of C$1.92 billion for the quarter. Aecon Group had a negative return on equity of 5.32% and a negative net margin of 0.83%. Research analysts forecast that Aecon Group will post 1.38 earnings per share for the current fiscal year.

Aecon Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, October 2nd were paid a $0.1925 dividend. The ex-dividend date was Tuesday, September 22nd. This represents a $0.77 annualized dividend and a dividend yield of 1.6%. Aecon Group’s payout ratio is -99.68%.

Insider Activity at Aecon Group

In related news, insider Steven Neil Nackan sold 4,500 shares of Aecon Group stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total value of C$204,975.00. Following the sale, the insider owned 8,035 shares of the company’s stock, valued at approximately C$365,994.25. This trade represents a 35.90% decrease in their position. Also, Director Scott Stewart bought 4,455 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was purchased at an average cost of C$44.89 per share, for a total transaction of C$199,984.95. Following the transaction, the director directly owned 24,484 shares of the company’s stock, valued at C$1,099,086.76. The trade was a 22.24% increase in their position. Over the last quarter, insiders have sold 7,500 shares of company stock valued at $343,875. Insiders own 0.82% of the company’s stock.

About Aecon Group

Aecon Group Inc (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment.