Aecon Group (TSE:ARE) Reaches New 1-Year High – Still a Buy?

Aecon Group Inc. (TSE:ARE) shares hit a new 52-week high on Thursday . The stock traded as high as C$29.61 and last traded at C$29.37, with a volume of 184781 shares trading hands. The stock had previously closed at C$27.99.

Analysts Set New Price Targets

ARE has been the subject of a number of recent analyst reports. Canaccord Genuity Group lifted their price target on shares of Aecon Group from C$28.00 to C$33.00 in a research note on Monday, November 4th. TD Securities raised Aecon Group from a “hold” rating to a “buy” rating and upped their target price for the company from C$23.00 to C$35.00 in a research note on Monday, November 4th. BMO Capital Markets increased their price target on Aecon Group from C$16.50 to C$27.00 in a report on Monday, November 4th. Stifel Nicolaus upped their price objective on Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Finally, CIBC lifted their target price on Aecon Group from C$25.00 to C$29.00 in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$25.94.

Aecon Group Stock Up 4.1 %

The business has a 50 day moving average of C$22.25 and a two-hundred day moving average of C$18.52. The stock has a market capitalization of C$1.82 billion, a PE ratio of -103.67, a PEG ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Friday, September 20th. Aecon Group’s payout ratio is currently -281.48%.

About Aecon Group

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.