Aecon Group (TSE:ARE) Price Target Raised to C$57.00 at Canaccord Genuity Group

Aecon Group (TSE:ARE) had its price objective boosted by equities researchers at Canaccord Genuity Group from C$56.00 to C$57.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 28.06% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. TD Securities boosted their price target on shares of Aecon Group from C$47.00 to C$49.00 and gave the company a “buy” rating in a research report on Monday, March 30th. TD lowered their price target on Aecon Group from C$62.00 to C$61.00 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group increased their price target on Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. National Bank Financial lifted their price target on shares of Aecon Group from C$48.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, ATB Cormark Capital Markets raised their target price on shares of Aecon Group from C$42.00 to C$49.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$53.42.

Aecon Group Stock Performance

TSE ARE traded up C$0.45 during trading hours on Monday, reaching C$44.51. 109,954 shares of the company were exchanged, compared to its average volume of 478,728. The company has a quick ratio of 1.27, a current ratio of 1.16 and a debt-to-equity ratio of 42.80. The stock has a market capitalization of C$3.05 billion, a P/E ratio of 80.93, a P/E/G ratio of 18.18 and a beta of 1.36. The business’s 50 day simple moving average is C$46.96 and its 200-day simple moving average is C$40.43. Aecon Group has a 1 year low of C$17.06 and a 1 year high of C$57.72.

Aecon Group (TSE:ARE) last issued its earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share (EPS) for the quarter. The business had revenue of C$1.26 billion for the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. On average, equities research analysts expect that Aecon Group will post 1.3793321 earnings per share for the current year.

Insider Buying and Selling at Aecon Group

In related news, insider Ernest Chan sold 521 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the sale, the insider directly owned 11,003 shares of the company’s stock, valued at approximately C$606,155.27. This represents a 4.52% decrease in their ownership of the stock. Also, Director John Michael Beck sold 20,000 shares of Aecon Group stock in a transaction dated Wednesday, May 13th. The stock was 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 in the company, valued at approximately C$10,024,524.09. The trade was a 9.03% decrease in their ownership of the stock. In the last quarter, insiders sold 23,451 shares of company stock worth $1,177,370. 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.