Insider Buying: Aecon Group (TSE:ARE) Director Acquires 4,455 Shares

Aecon Group Inc. (TSE:ARE) Director Scott Stewart acquired 4,455 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was acquired at an average price of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the transaction, the director directly owned 24,484 shares of the company’s stock, valued at approximately C$1,099,086.76. This represents a 22.24% increase in their ownership of the stock.

Aecon Group Price Performance

Shares of ARE traded down C$2.15 during mid-day trading on Tuesday, hitting C$41.28. 206,569 shares of the company were exchanged, compared to its average volume of 475,832. The stock has a market cap of C$2.83 billion, a price-to-earnings ratio of -43.45, a price-to-earnings-growth ratio of 18.18 and a beta of 1.41. Aecon Group Inc. has a 1-year low of C$19.81 and a 1-year high of C$57.72. The company has a 50 day moving average of C$47.39 and a 200-day moving average of C$45.18. The company has a debt-to-equity ratio of 84.23, a quick ratio of 1.27 and a current ratio of 1.08.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.33 EPS for the quarter. Aecon Group had a negative return on equity of 6.76% and a negative net margin of 1.10%.The company had revenue of C$1.63 billion during the quarter. Analysts expect that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, June 23rd. Aecon Group’s dividend payout ratio is currently -80.53%.

Analysts Set New Price Targets

ARE has been the subject of a number of recent research reports. National Bank Financial increased their price objective on shares of Aecon Group from C$59.00 to C$65.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Stifel Nicolaus raised shares of Aecon Group from a “hold” rating to a “buy” rating and upped their price objective for the company from C$46.00 to C$54.00 in a report on Friday, June 26th. Desjardins raised their price objective on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. TD cut their price objective on Aecon Group from C$62.00 to C$61.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Finally, Canaccord Genuity Group upped their target price on shares of Aecon Group from C$56.00 to C$57.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Aecon Group has a consensus rating of “Moderate Buy” and an average target price of C$55.08.

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.