Aecon Group (TSE:ARE) Hits New 1-Year High – Time to Buy?

Aecon Group Inc. (TSE:ARE)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$29.70 and last traded at C$29.52, with a volume of 57288 shares trading hands. The stock had previously closed at C$29.16.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ARE shares. Canaccord Genuity Group boosted their price target on Aecon Group from C$28.00 to C$33.00 in a research report on Monday, November 4th. CIBC boosted their target price on shares of Aecon Group from C$25.00 to C$29.00 in a research report on Monday, November 4th. Raymond James lifted their price target on shares of Aecon Group from C$24.00 to C$28.00 in a research note on Tuesday, November 5th. Stifel Nicolaus upped their price objective on shares of Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Finally, ATB Capital raised their target price on Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.94.

Aecon Group Stock Down 3.0 %

The stock has a 50 day moving average of C$24.15 and a 200 day moving average of C$19.29. The firm has a market capitalization of C$1.79 billion, a price-to-earnings ratio of -109.41, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were issued a $0.19 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.65%. Aecon Group’s dividend payout ratio (DPR) is -281.48%.

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.