Aecon Group (TSE:ARE) Stock Gets Price Target Boost from ATB Cormack

Aecon Group (TSE:ARE) had its price objective upped by equities research analysts at ATB Cormack from C$66.00 to C$75.00 in a research note issued to investors on Monday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. ATB Cormack‘s price target would suggest a potential upside of 44.23% from the stock’s previous close.

Several other equities analysts have also commented on ARE. National Bank Financial increased their target price on shares of Aecon Group from C$66.00 to C$70.00 and gave the company an “outperform” rating in a report on Monday. TD boosted their price target on shares of Aecon Group from C$66.00 to C$75.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James Financial upped their price target on shares of Aecon Group from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus raised their price objective on Aecon Group from C$66.00 to C$75.00 and gave the company a “buy” rating in a research note on Monday. Finally, Desjardins boosted their target price on Aecon Group from C$58.00 to C$60.00 and gave the company a “hold” rating in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$60.00.

Aecon Group Price Performance

ARE traded up C$2.77 during midday trading on Monday, hitting C$52.00. The stock had a trading volume of 450,212 shares, compared to its average volume of 468,965. Aecon Group has a 1 year low of C$25.05 and a 1 year high of C$59.96. The company has a debt-to-equity ratio of 56.97, a quick ratio of 1.27 and a current ratio of 1.10. The business has a fifty day moving average of C$49.31 and a 200 day moving average of C$45.25. The company has a market cap of C$3.57 billion, a P/E ratio of -67.53, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Thursday, October 29th. The company reported C$0.86 EPS for the quarter. The firm had revenue of C$1.92 billion for the quarter. Aecon Group had a negative net margin of 0.83% and a negative return on equity of 5.32%. As a group, equities analysts forecast that Aecon Group will post 1.38 earnings per share for the current fiscal year.

Insider Transactions at Aecon Group

In other Aecon Group news, insider Steven Neil Nackan sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the completion of the transaction, the insider owned 8,035 shares of the company’s stock, valued at C$365,994.25. This represents a 35.90% decrease in their position. Also, Director Scott Stewart acquired 4,455 shares of the company’s stock in a transaction on Friday, August 28th. The stock was acquired at an average price of C$44.89 per share, with a total value of C$199,984.95. Following the acquisition, the director owned 24,484 shares in the company, valued at approximately C$1,099,086.76. This trade represents a 22.24% increase in their position. In the last 90 days, insiders have sold 7,500 shares of company stock worth $343,875. 0.82% of the stock is owned by company insiders.

About Aecon Group

Aecon Group Inc (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment.