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

Aecon Group (TSE:ARE) had its price objective raised by TD from C$66.00 to C$75.00 in a report released on Monday, BayStreet reports. The firm presently has a “buy” rating on the stock. TD‘s price target indicates a potential upside of 44.23% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Raymond James Financial increased their price target on shares of Aecon Group from C$60.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Aecon Group from C$66.00 to C$75.00 and gave the stock a “buy” rating in a report on Monday. Desjardins upped their price objective on shares of Aecon Group from C$58.00 to C$60.00 and gave the company a “hold” rating in a research report on Monday. Finally, National Bank Financial increased their target price on shares of Aecon Group from C$66.00 to C$70.00 and gave the company an “outperform” rating in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Aecon Group has an average rating of “Moderate Buy” and a consensus price target of C$60.00.

Aecon Group Stock Performance

Shares of ARE traded up C$2.77 during mid-day trading on Monday, hitting C$52.00. The company’s stock had a trading volume of 450,212 shares, compared to its average volume of 468,965. Aecon Group has a one year low of C$25.05 and a one year high of C$59.96. The company has a debt-to-equity ratio of 56.97, a quick ratio of 1.27 and a current ratio of 1.10. The firm has a market capitalization of C$3.57 billion, a PE ratio of -67.53, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16. The stock’s 50-day moving average is C$49.31 and its two-hundred day moving average is C$45.25.

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

Insiders Place Their Bets

In other news, insider Steven Neil Nackan sold 4,500 shares of the stock in a transaction on Thursday, August 27th. The shares were 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 owned 8,035 shares in the company, valued at approximately C$365,994.25. This represents a 35.90% decrease in their position. Also, Director Scott Stewart acquired 4,455 shares of Aecon Group stock in a transaction dated Friday, August 28th. The shares were acquired at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the acquisition, the director directly owned 24,484 shares in the company, valued at C$1,099,086.76. This trade represents a 22.24% increase in their position. In the last 90 days, insiders sold 7,500 shares of company stock valued at $343,875. Corporate 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.