Aecon Group (TSE:ARE) Sets New 52-Week High – Still a Buy?

Aecon Group Inc. (TSE:ARE)’s share price reached a new 52-week high on Wednesday . The stock traded as high as C$35.50 and last traded at C$34.67, with a volume of 127642 shares changing hands. The stock had previously closed at C$34.80.

Analyst Ratings Changes

ARE has been the subject of several research analyst reports. BMO Capital Markets raised their price target on Aecon Group from C$25.00 to C$30.00 in a research report on Friday, October 31st. ATB Capital lowered Aecon Group from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$28.00 to C$32.00 in a research note on Friday, October 31st. Raymond James Financial cut Aecon Group from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$26.00 to C$33.00 in a report on Friday, October 31st. Desjardins lowered shares of Aecon Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$22.00 to C$35.00 in a research note on Friday, October 31st. Finally, CIBC cut shares of Aecon Group from an “outperform” rating to a “neutral” rating and increased their price target for the stock from C$29.00 to C$35.00 in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$33.00.

Aecon Group Stock Performance

The stock has a market capitalization of C$2.22 billion, a PE ratio of 251.07, a price-to-earnings-growth ratio of 18.18 and a beta of 1.51. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84. The stock has a fifty day moving average of C$30.87 and a 200-day moving average of C$25.86.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Wednesday, October 29th. The company reported C$0.53 earnings per share (EPS) for the quarter. The company had revenue of C$1.53 billion for the quarter. Aecon Group had a negative return on equity of 6.40% and a negative net margin of 1.56%. Equities analysts anticipate that Aecon Group Inc. will post 1.3793321 earnings per share for the current fiscal year.

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.