ATB Capital Increases Aecon Group (TSE:ARE) Price Target to C$29.00

Aecon Group (TSE:ARE) had its price target raised by equities researchers at ATB Capital from C$21.00 to C$29.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Capital’s target price suggests a potential upside of 47.66% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. National Bank Financial upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 28th. BMO Capital Markets reduced their target price on shares of Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Desjardins cut their price objective on shares of Aecon Group from C$20.00 to C$18.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, TD Securities reduced their price objective on shares of Aecon Group from C$17.00 to C$16.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$20.80.

Aecon Group Price Performance

Shares of ARE traded up C$0.31 on Monday, hitting C$19.64. The company’s stock had a trading volume of 101,407 shares, compared to its average volume of 298,747. The company has a market capitalization of C$1.23 billion, a PE ratio of -72.74, a PEG ratio of 18.18 and a beta of 1.12. Aecon Group has a fifty-two week low of C$8.42 and a fifty-two week high of C$20.22. The company has a 50 day moving average price of C$16.82 and a 200 day moving average price of C$16.64. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($2.53) by C$0.54. The business had revenue of C$853.80 million during the quarter, compared to analysts’ expectations of C$1.01 billion. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. On average, research analysts anticipate that Aecon Group will post 1.3804945 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aecon Group news, Director Scott Stewart acquired 10,000 shares of Aecon Group stock in a transaction dated Monday, July 29th. The stock was bought at an average cost of C$16.54 per share, for a total transaction of C$165,380.00. In related news, Director Scott Stewart acquired 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were bought at an average price of C$16.54 per share, for a total transaction of C$165,380.00. Also, Senior Officer Timothy John Murphy acquired 4,244 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of C$17.66 per share, with a total value of C$74,969.84. Over the last 90 days, insiders acquired 16,549 shares of company stock worth $274,762. 0.82% of the stock is owned by insiders.

Aecon Group Company Profile

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.