Aecon Group (TSE:ARE) Price Target Raised to C$41.00

Aecon Group (TSE:ARE) had its price target boosted by research analysts at Raymond James Financial from C$33.00 to C$41.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James Financial’s price objective indicates a potential downside of 2.05% from the company’s previous close.

ARE has been the subject of several other research reports. ATB Cormark Capital Markets lifted their price objective on shares of Aecon Group from C$35.00 to C$39.00 and gave the company a “sector perform” rating in a research note on Monday. Canaccord Genuity Group increased their price target on Aecon Group from C$40.00 to C$52.00 and gave the company a “buy” rating in a research report on Monday. TD Securities boosted their target price on Aecon Group from C$39.00 to C$47.00 and gave the stock a “buy” rating in a research note on Monday. National Bank Financial increased their price target on shares of Aecon Group from C$35.00 to C$45.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Stifel Nicolaus cut their price target on Aecon Group from C$34.25 to C$28.75 and set a “hold” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$39.38.

Aecon Group Stock Performance

Shares of ARE traded up C$1.08 during midday trading on Tuesday, reaching C$41.86. 305,612 shares of the stock were exchanged, compared to its average volume of 387,385. The stock’s 50 day simple moving average is C$35.30 and its 200 day simple moving average is C$29.39. The company has a market cap of C$2.65 billion, a P/E ratio of 299.00, a PEG ratio of 18.18 and a beta of 1.10. Aecon Group has a twelve month low of C$15.21 and a twelve month high of C$42.40. The company has a quick ratio of 1.27, a current ratio of 1.10 and a debt-to-equity ratio of 65.17.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 earnings per share (EPS) for the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. The firm had revenue of C$1.54 billion for the quarter. On average, sell-side analysts expect that Aecon Group will post 1.3793321 earnings per share for the current year.

Key Stories Impacting Aecon Group

Here are the key news stories impacting Aecon Group this week:

• Positive Sentiment: Canaccord raised its price target to C$52 and reiterated a “buy” rating (largest upside among updates, ~27.5% above the referenced price), signaling stronger bullish conviction from an institutional analyst. BayStreet.CA Tickerreport.com
• Positive Sentiment: National Bank Financial bumped its target to C$45 and moved to “outperform,” reinforcing upward pressure from regional/coverage analysts. BayStreet.CA
• Positive Sentiment: TD Securities raised its target to C$47, another constructive signal from a major dealer that supports further upside. BayStreet.CA
• Negative Sentiment: ATB Cormark lifted its target to C$39 but retained a “sector perform” stance — the new target sits below the current quoted level, which could limit upside from that firm’s clients. BayStreet.CA
• Negative Sentiment: Stifel Nicolaus cut its target to C$28.75 and kept a “hold” rating, representing the most bearish view among today’s updates and a notable downside scenario for the stock. BayStreet.CA

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. Aecon generates the majority of its revenue from the Construction segment.