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 during mid-day trading on Thursday . The company traded as high as C$29.61 and last traded at C$29.37, with a volume of 184781 shares changing hands. The stock had previously closed at C$27.99.

Analysts Set New Price Targets

Several equities analysts recently commented on ARE shares. Canaccord Genuity Group upped their price target on shares of Aecon Group from C$28.00 to C$33.00 in a research report on Monday, November 4th. BMO Capital Markets increased their target price on Aecon Group from C$16.50 to C$27.00 in a research report on Monday, November 4th. ATB Capital lifted their target price on Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a report on Monday, September 16th. TD Securities upgraded Aecon Group from a “hold” rating to a “buy” rating and upped their price target for the stock from C$23.00 to C$35.00 in a research note on Monday, November 4th. Finally, National Bank Financial raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 28th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Aecon Group has a consensus rating of “Moderate Buy” and a consensus price target of C$25.94.

Aecon Group Trading Down 0.8 %

The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The business has a 50 day simple moving average of C$22.67 and a two-hundred day simple moving average of C$18.67. The stock has a market cap of C$1.80 billion, a price-to-earnings ratio of -107.04, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, September 20th. Aecon Group’s payout ratio is currently -281.48%.

Aecon Group Company Profile

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.