Stifel Nicolaus Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Aecon Group (TSE:ARE) had its price target lifted by research analysts at Stifel Nicolaus from C$19.00 to C$24.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential downside of 3.42% from the stock’s previous close.

ARE has been the topic of several other reports. ATB Capital cut their target price on shares of Aecon Group from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 5th. National Bankshares lifted their target price on shares of Aecon Group from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Canaccord Genuity Group lifted their target price on shares of Aecon Group from C$25.00 to C$29.00 in a research report on Monday. TD Securities lifted their target price on shares of Aecon Group from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, BMO Capital Markets raised their price target on shares of Aecon Group from C$19.00 to C$22.00 in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$24.91.

Aecon Group Trading Down 0.8%

ARE opened at C$24.85 on Monday. The company’s 50 day moving average is C$21.60 and its 200-day moving average is C$19.63. Aecon Group has a 1-year low of C$15.21 and a 1-year high of C$29.70. 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 market cap of C$1.58 billion, a P/E ratio of 59.17, a PEG ratio of 18.18 and a beta of 1.48.

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.