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

Aecon Group (TSE:ARE) had its price target hoisted by analysts at Desjardins from C$58.00 to C$60.00 in a research note issued on Monday, BayStreet reports. The firm presently has a “hold” rating on the stock. Desjardins‘s price objective would indicate a potential upside of 15.38% from the stock’s current price.

A number of other analysts also recently weighed in on ARE. Raymond James Financial boosted their target price on Aecon Group from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday. National Bank Financial increased their price target on shares of Aecon Group from C$66.00 to C$70.00 and gave the company an “outperform” rating in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$60.00.

Aecon Group Price Performance

ARE stock traded up C$2.77 during mid-day trading on Monday, hitting C$52.00. 450,212 shares of the stock were exchanged, compared to its average volume of 468,965. The company has a debt-to-equity ratio of 56.97, a current ratio of 1.10 and a quick ratio of 1.27. The business has a fifty day moving average price of C$49.31 and a 200 day moving average price of C$45.25. Aecon Group has a 12 month low of C$25.05 and a 12 month high of C$59.96. The stock has a market capitalization of C$3.57 billion, a price-to-earnings ratio of -67.53, a PEG ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Thursday, October 29th. The company reported C$0.86 earnings per share (EPS) for the quarter. The firm had revenue of C$1.92 billion during the quarter. Aecon Group had a negative return on equity of 5.32% and a negative net margin of 0.83%. On average, sell-side analysts anticipate that Aecon Group will post 1.38 EPS for the current year.

Insider Activity at Aecon Group

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

Aecon Group Company Profile

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.