Aecon Group (TSE:ARE) Price Target Cut to C$52.00 by Analysts at Raymond James Financial

Aecon Group (TSE:ARE) had its target price cut by equities research analysts at Raymond James Financial from C$54.00 to C$52.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James Financial’s price target indicates a potential upside of 18.26% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ARE. TD Securities lifted 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. ATB Cormark Capital Markets increased their price target 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. Royal Bank Of Canada increased their price target on Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Jefferies Financial Group lifted their target price on Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Finally, Desjardins upped their price target on Aecon Group from C$52.00 to C$55.00 and gave the company a “hold” rating in a research note on Friday. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$53.33.

Aecon Group Stock Performance

TSE:ARE traded up C$0.21 on Friday, reaching C$43.97. 287,810 shares of the company’s stock were exchanged, compared to its average volume of 480,258. The firm has a market cap of C$3.01 billion, a price-to-earnings ratio of 79.95, a P/E/G ratio of 18.18 and a beta of 1.36. Aecon Group has a 52 week low of C$17.06 and a 52 week high of C$57.72. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. The stock has a fifty day simple moving average of C$47.01 and a 200-day simple moving average of C$40.34.

Aecon Group (TSE:ARE) last posted its quarterly earnings data 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%. As a group, sell-side analysts predict that Aecon Group will post 1.3793321 earnings per share for the current year.

Insider Transactions at Aecon Group

In other Aecon Group news, insider Ernest Chan sold 521 shares of Aecon Group stock in a transaction on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total value of C$28,701.89. Following the transaction, the insider directly owned 11,003 shares in the company, valued at approximately C$606,155.27. The trade was a 4.52% decrease in their ownership of the stock. Also, insider Timothy John Murphy sold 2,930 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were 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 directly owned 4,801 shares of the company’s stock, valued at C$251,140.31. The trade was a 37.90% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 23,451 shares of company stock worth $1,177,370. Insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

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.