Aecon Group (TSE:ARE) Price Target Raised to C$31.00

Aecon Group (TSE:ARE) had its target price boosted by CIBC from C$30.00 to C$31.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 77.96% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating in a report on Monday, March 10th. National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 9th. Desjardins dropped their price target on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Stifel Nicolaus downgraded Aecon Group from a “buy” rating to a “hold” rating and reduced their target price for the company from C$31.00 to C$19.00 in a research note on Friday, March 7th. Finally, Raymond James decreased their price target on shares of Aecon Group from C$28.00 to C$23.00 and set a “market perform” rating for the company in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Aecon Group has a consensus rating of “Moderate Buy” and a consensus target price of C$25.07.

Aecon Group Stock Performance

Shares of ARE traded up C$0.21 during trading hours on Thursday, hitting C$17.42. The company had a trading volume of 170,906 shares, compared to its average volume of 473,232. The business has a fifty day moving average of C$19.46 and a 200-day moving average of C$23.51. The firm has a market cap of C$1.10 billion, a price-to-earnings ratio of -17.14, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a 12 month low of C$13.03 and a 12 month high of C$29.70. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84.

Insider Buying and Selling

In related news, Director Stuart Lee acquired 5,700 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of C$18.35 per share, with a total value of C$104,595.00. Insiders own 0.82% of the company’s stock.

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.