Aecon Group (TSE:ARE) Stock Price Expected to Rise, Desjardins Analyst Says

Aecon Group (TSE:ARE) had its target price lifted by research analysts at Desjardins from C$52.00 to C$55.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price target suggests a potential upside of 25.09% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Raymond James Financial boosted their target price on Aecon Group from C$44.00 to C$54.00 in a research report on Wednesday, April 29th. BMO Capital Markets lifted their price objective on Aecon Group from C$45.00 to C$49.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. National Bank Financial boosted their price objective on shares of Aecon Group from C$48.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Jefferies Financial Group increased their target price on Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Finally, Royal Bank Of Canada lifted their price objective on Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$53.33.

Aecon Group Stock Up 0.5%

Shares of TSE:ARE traded up C$0.21 during midday trading on Friday, reaching C$43.97. The company had a trading volume of 287,810 shares, compared to its average volume of 480,258. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. Aecon Group has a one year low of C$17.06 and a one year high of C$57.72. The stock’s fifty day moving average price is C$47.01 and its 200-day moving average price is C$40.34. The stock has a market capitalization of C$3.01 billion, a P/E ratio of 79.95, a PEG ratio of 18.18 and a beta of 1.36.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Tuesday, April 28th. The company reported C($0.21) earnings per share for the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. The firm had revenue of C$1.26 billion during the quarter. Equities research analysts expect that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Michael Beck sold 20,000 shares of Aecon Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of C$49.77, for a total value of C$995,400.00. Following the completion of the sale, the director owned 201,417 shares of the company’s stock, valued at approximately C$10,024,524.09. This trade represents a 9.03% decrease in their position. Also, insider Ernest Chan sold 521 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the completion of the sale, the insider owned 11,003 shares of the company’s stock, valued at approximately C$606,155.27. The trade was a 4.52% decrease in their position. Insiders have sold a total of 23,451 shares of company stock worth $1,177,370 in the last 90 days. Company insiders own 0.82% of the company’s stock.

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. Aecon generates the majority of its revenue from the Construction segment.