Aecon Group (TSE:ARE) Price Target Raised to C$70.00

Aecon Group (TSE:ARE) had its price objective boosted by National Bank Financial from C$66.00 to C$70.00 in a research note released on Monday morning,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

ARE has been the subject of a number of other research reports. Desjardins upped their price target on Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Raymond James Financial raised their price objective on Aecon Group from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Aecon Group currently has an average rating of “Moderate Buy” and a consensus price target of C$60.92.

Aecon Group Trading Down 0.9%

Shares of ARE stock opened at C$56.31 on Monday. Aecon Group has a 1 year low of C$25.05 and a 1 year high of C$59.96. The firm has a fifty day moving average price of C$50.00 and a 200-day moving average price of C$45.59. 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 company has a market cap of C$3.86 billion, a price-to-earnings ratio of -73.13, a PEG ratio of 18.18 and a beta of 0.88.

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

Aecon Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, October 2nd were given a dividend of $0.1925 per share. The ex-dividend date was Tuesday, September 22nd. This represents a $0.77 annualized dividend and a dividend yield of 1.4%. Aecon Group’s dividend payout ratio (DPR) is currently -99.68%.

Insider Activity 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 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 represents a 35.90% decrease in their position. Also, Director Scott Stewart purchased 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 completion of the purchase, the director directly owned 24,484 shares in the company, valued at C$1,099,086.76. This trade represents a 22.24% increase in their ownership of the stock. Insiders have sold a total of 6,500 shares of company stock worth $296,155 in the last three months. 0.82% of the stock is owned by corporate 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.