Aecon Group (TSE:ARE) PT Raised to C$16.00

Aecon Group (TSE:ARE) had its price target raised by equities researchers at Royal Bank of Canada from C$13.00 to C$16.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential downside of 5.94% from the company’s previous close.

Several other research analysts also recently weighed in on the company. National Bankshares increased their price target on Aecon Group from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a research note on Friday. TD Securities raised their target price on Aecon Group from C$14.00 to C$18.50 and gave the stock a “hold” rating in a research note on Friday, March 8th. CIBC raised their target price on Aecon Group from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Friday. Desjardins raised their price target on Aecon Group from C$16.00 to C$20.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Raymond James raised their price target on Aecon Group from C$16.00 to C$17.00 and gave the company a “market perform” rating in a report on Friday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$19.17.

Aecon Group Stock Down 0.6 %

TSE ARE traded down C$0.10 on Friday, reaching C$17.01. The company had a trading volume of 219,021 shares, compared to its average volume of 325,537. The stock has a market capitalization of C$1.06 billion, a P/E ratio of 8.10, a P/E/G ratio of 18.18 and a beta of 1.16. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 39.29. The company’s fifty day moving average is C$16.08 and its 200 day moving average is C$13.54. Aecon Group has a 52-week low of C$8.42 and a 52-week high of C$17.40.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.04. The firm had revenue of C$846.59 million during the quarter, compared to the consensus estimate of C$1.03 billion. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. Sell-side analysts anticipate that Aecon Group will post 0.7603047 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Adam Robert Borgatti purchased 4,231 shares of Aecon Group stock in a transaction that occurred on Tuesday, March 26th. The shares were acquired at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. In other news, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total value of C$37,191.30. Also, Senior Officer Adam Robert Borgatti acquired 4,231 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of C$13.07 per share, for a total transaction of C$55,299.17. 1.72% of the stock is owned by corporate insiders.

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.