Desjardins Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price objective hoisted by research analysts at Desjardins from C$55.00 to C$61.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price target would indicate a potential upside of 16.15% from the company’s previous close.

Several other research firms have also issued reports on ARE. Canadian Imperial Bank of Commerce upped their target price on Aecon Group from C$45.00 to C$48.00 in a report on Thursday, April 9th. Stifel Nicolaus upgraded shares of Aecon Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$46.00 to C$54.00 in a report on Friday, June 26th. ATB Cormark Capital Markets boosted their price objective on shares of Aecon Group from C$42.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Raymond James Financial upgraded Aecon Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$52.00 to C$60.00 in a research report on Friday. Finally, Canaccord Genuity Group increased their price target on shares of Aecon Group from C$56.00 to C$57.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$54.58.

Aecon Group Stock Up 2.0%

Aecon Group stock traded up C$1.01 during midday trading on Monday, reaching C$52.52. The company’s stock had a trading volume of 281,318 shares, compared to its average volume of 483,120. 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 52-week low of C$17.06 and a 52-week high of C$57.72. The stock has a market capitalization of C$3.60 billion, a P/E ratio of 95.49, a PEG ratio of 18.18 and a beta of 1.38. The stock’s 50-day simple moving average is C$47.06 and its 200-day simple moving average is C$41.00.

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

Insider Activity

In related news, insider Ernest Chan sold 521 shares of Aecon Group stock in a transaction that occurred 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 directly owned 11,003 shares of the company’s stock, valued at approximately C$606,155.27. This trade represents a 4.52% decrease in their position. Also, insider Timothy John Murphy sold 2,930 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$52.31, for a total transaction of C$153,268.30. Following the completion of the sale, the insider owned 4,801 shares in the company, valued at C$251,140.31. This represents a 37.90% decrease in their position. Insiders sold a total of 23,451 shares of company stock valued at $1,177,370 over the last three months. Corporate 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.