Aecon Group (TSE:ARE) Price Target Lowered to C$30.00 at CIBC

Aecon Group (TSE:ARE) had its price target reduced by CIBC from C$33.00 to C$30.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 64.56% from the company’s previous close.

Several other brokerages have also recently issued reports on ARE. National Bank Financial cut Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. BMO Capital Markets lifted their target price on Aecon Group from C$27.00 to C$29.00 in a report on Friday, December 6th. National Bankshares downgraded shares of Aecon Group from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$28.00 to C$30.00 in a report on Wednesday, December 4th. TD Securities lowered their price objective on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Desjardins cut their target price on shares of Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.98.

Aecon Group Price Performance

ARE traded down C$0.46 on Friday, reaching C$18.23. The company had a trading volume of 977,458 shares, compared to its average volume of 420,637. The company has a market capitalization of C$1.15 billion, a P/E ratio of -17.93, a PEG ratio of 18.18 and a beta of 1.13. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84. The company has a fifty day moving average of C$24.38 and a 200-day moving average of C$23.88. Aecon Group has a one year low of C$13.03 and a one year high of C$29.70.

About Aecon Group

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.