Aecon Group (TSE:ARE) Upgraded at Raymond James Financial

Aecon Group (TSE:ARE) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a C$60.00 target price on the stock, up from their prior target price of C$52.00. Raymond James Financial’s price target indicates a potential upside of 16.87% from the company’s current price.

Several other equities research analysts have also issued reports on ARE. Stifel Nicolaus upgraded shares of Aecon Group from a “hold” rating to a “buy” rating and lifted their target price for the company from C$46.00 to C$54.00 in a research report on Friday, June 26th. Desjardins lifted their target price on shares of Aecon Group from C$52.00 to C$55.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Jefferies Financial Group boosted their target price on Aecon Group from C$49.00 to C$59.00 in a research note on Monday, April 27th. TD Securities lifted their price target on Aecon Group from C$47.00 to C$49.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. Finally, TD decreased their target price on shares of Aecon Group from C$62.00 to C$61.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$54.08.

Aecon Group Stock Performance

Shares of ARE traded up C$1.83 during mid-day trading on Friday, hitting C$51.34. The stock had a trading volume of 203,544 shares, compared to its average volume of 484,157. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. The firm has a market cap of C$3.52 billion, a P/E ratio of 93.35, a PEG ratio of 18.18 and a beta of 1.36. Aecon Group has a 52 week low of C$17.06 and a 52 week high of C$57.72. The business has a fifty day moving average price of C$46.96 and a 200-day moving average price of C$40.85.

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

Insiders Place Their Bets

In related news, insider Timothy John Murphy sold 2,930 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$52.31, for a total transaction of C$153,268.30. Following the completion of the sale, the insider directly owned 4,801 shares in the company, valued at approximately C$251,140.31. The trade was a 37.90% decrease in their ownership of the stock. Also, insider Ernest Chan sold 521 shares of the 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 transaction of C$28,701.89. Following the completion of the transaction, the insider 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. Over the last three months, insiders have sold 23,451 shares of company stock valued at $1,177,370. 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.