BMO Capital Markets Cuts Aecon Group (TSE:ARE) Price Target to C$24.00

Aecon Group (TSE:ARE) had its target price dropped by research analysts at BMO Capital Markets from C$29.00 to C$24.00 in a research note issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 31.65% from the company’s current price.

Several other equities research analysts have also weighed in on the company. National Bankshares lowered Aecon Group from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from C$28.00 to C$30.00 in a research report on Wednesday, December 4th. TD Securities reduced their price target on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating for the company in a research report on Friday. Desjardins lowered their price objective on shares of Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a research report on Friday. CIBC reduced their target price on shares of Aecon Group from C$33.00 to C$30.00 in a report on Friday. Finally, National Bank Financial lowered Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$24.98.

Aecon Group Stock Down 2.5 %

Shares of TSE:ARE traded down C$0.46 during trading on Friday, hitting C$18.23. The company’s stock had a trading volume of 977,458 shares, compared to its average volume of 420,637. The company has a market capitalization of C$1.15 billion, a PE ratio of -17.93, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. Aecon Group has a fifty-two week low of C$13.03 and a fifty-two week high of C$29.70. The business has a 50 day moving average price of C$24.38 and a two-hundred day moving average price of C$23.88.

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.