Aecon Group (TSE:ARE) Price Target Raised to C$75.00

Aecon Group (TSE:ARE) had its target price raised by ATB Cormark Capital Markets from C$66.00 to C$75.00 in a research report released on Monday,BayStreet reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on ARE. Stifel Nicolaus raised their price target on shares of Aecon Group from C$66.00 to C$75.00 and gave the stock a “buy” rating in a research report on Monday. TD boosted their price objective on shares of Aecon Group from C$66.00 to C$75.00 and gave the company a “buy” rating in a research report on Monday. National Bank Financial increased their price objective on shares of Aecon Group from C$66.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James Financial increased their price objective on shares of Aecon Group from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Finally, Desjardins raised their target price on shares of Aecon Group from C$58.00 to C$60.00 and gave the stock a “hold” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Aecon Group currently has a consensus rating of “Moderate Buy” and an average target price of C$60.92.

Aecon Group Stock Performance

TSE:ARE opened at C$56.31 on Monday. The firm has a 50-day moving average of C$50.00 and a two-hundred day moving average of C$45.59. The company has a debt-to-equity ratio of 56.97, a current ratio of 1.10 and a quick ratio of 1.27. The stock has a market cap of C$3.86 billion, a P/E ratio of -73.13, a PEG ratio of 18.18 and a beta of 0.88. Aecon Group has a 1-year low of C$25.05 and a 1-year high of C$59.96.

Aecon Group (TSE:ARE) last issued 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 during the quarter. Aecon Group had a negative net margin of 0.83% and a negative return on equity of 5.32%. On average, research analysts expect 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. Stockholders of record on Friday, October 2nd were issued a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 22nd. Aecon Group’s payout ratio is -99.68%.

Insider Activity at Aecon Group

In other Aecon Group news, Director Scott Stewart acquired 4,455 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the acquisition, the director directly owned 24,484 shares of the company’s stock, valued at C$1,099,086.76. This represents a 22.24% increase in their position. Also, insider Steven Neil Nackan sold 4,500 shares of the 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 completion of the transaction, the insider directly owned 8,035 shares of the company’s stock, valued at C$365,994.25. This trade represents a 35.90% decrease in their ownership of the stock. Over the last quarter, insiders have sold 6,500 shares of company stock valued at $296,155. Insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

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.