Aecon Group (TSE:ARE) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Aecon Group (TSE:ARE) had its price objective hoisted by research analysts at Stifel Nicolaus from C$44.00 to C$44.50 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential downside of 4.96% from the stock’s previous close.

A number of other research firms have also recently issued reports on ARE. National Bank Financial boosted their price objective on Aecon Group from C$45.00 to C$48.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. Canaccord Genuity Group boosted their price objective on Aecon Group from C$40.00 to C$52.00 and gave the company a “buy” rating in a report on Monday, March 9th. BMO Capital Markets boosted their price objective on Aecon Group from C$40.00 to C$45.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Raymond James Financial boosted their price objective on Aecon Group from C$41.00 to C$44.00 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Finally, Desjardins boosted their price objective on Aecon Group from C$43.00 to C$45.00 and gave the company a “hold” rating in a report on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$46.15.

Aecon Group Trading Up 1.1%

ARE traded up C$0.49 during trading hours on Friday, reaching C$46.82. 177,938 shares of the company’s stock traded hands, compared to its average volume of 477,918. The firm has a 50-day moving average price of C$40.65 and a 200 day moving average price of C$33.39. Aecon Group has a 52-week low of C$15.21 and a 52-week high of C$47.12. The company has a quick ratio of 1.27, a current ratio of 1.10 and a debt-to-equity ratio of 65.17. The firm has a market capitalization of C$3.21 billion, a PE ratio of 203.57, a PEG ratio of 18.18 and a beta of 0.97.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 earnings per share (EPS) for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The company had revenue of C$1.54 billion during the quarter. As a group, sell-side analysts predict that Aecon Group will post 1.3793321 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aecon Group news, Director Eric Stuart Rosenfeld sold 125,000 shares of Aecon Group stock in a transaction on Friday, March 27th. The stock was sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the completion of the sale, the director directly owned 184,200 shares of the company’s stock, valued at C$7,670,088. The trade was a 40.43% decrease in their position. 0.82% of the stock is currently owned by company insiders.

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.