Aecon Group (TSE:ARE) Price Target Raised to C$31.00

Aecon Group (TSE:ARE) had its price objective increased by stock analysts at Stifel Nicolaus from C$30.00 to C$31.00 in a report issued on Friday, BayStreet.CA reports. Stifel Nicolaus’ price target indicates a potential upside of 41.62% from the company’s current price.

Other equities analysts have also issued research reports about the company. CIBC decreased their price target on Aecon Group from C$23.00 to C$22.00 in a research note on Thursday, July 11th. National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$17.00 to C$20.50 in a research note on Monday, July 29th. Royal Bank of Canada raised their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Finally, TD Securities dropped their price objective on shares of Aecon Group from C$17.00 to C$16.00 and set a “hold” rating for the company in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Aecon Group currently has an average rating of “Moderate Buy” and a consensus price target of C$21.16.

Aecon Group Trading Up 1.8 %

ARE opened at C$21.89 on Friday. The stock has a market capitalization of C$1.37 billion, a price-to-earnings ratio of -81.07, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$22.06. The company has a 50-day simple moving average of C$18.38 and a 200 day simple moving average of C$17.11.

Aecon Group (TSE:ARE) last issued its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, topping analysts’ consensus estimates of C($2.53) by C$0.54. The company had revenue of C$853.80 million during the quarter, compared to the consensus estimate of C$1.01 billion. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. Analysts predict that Aecon Group will post 1.3793321 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of C$17.66 per share, with a total value of C$74,969.84. In other news, Director Scott Stewart bought 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average price of C$16.54 per share, with a total value of C$165,380.00. Also, Senior Officer Timothy John Murphy purchased 4,244 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. Insiders have acquired a total of 16,549 shares of company stock valued at $274,762 over the last 90 days. 0.82% of the stock is owned by insiders.

About Aecon Group

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.