Insider Buying: Aecon Group (TSE:ARE) Director Acquires C$199,984.95 in Stock

Aecon Group Inc. (TSE:ARE) Director Scott Stewart acquired 4,455 shares of Aecon Group stock in a transaction dated Friday, August 28th. The stock was bought at an average price of C$44.89 per share, for a total transaction of C$199,984.95. Following the completion of the transaction, the director directly owned 24,484 shares of the company’s stock, valued at approximately C$1,099,086.76. This represents a 22.24% increase in their ownership of the stock.

Aecon Group Trading Up 3.0%

Aecon Group stock opened at C$43.65 on Friday. The stock has a market cap of C$2.99 billion, a PE ratio of -45.95, a P/E/G ratio of 18.18 and a beta of 1.39. The stock has a 50-day moving average price of C$47.30 and a 200 day moving average price of C$45.32. Aecon Group Inc. has a 52 week low of C$20.49 and a 52 week high of C$57.72. The company has a current ratio of 1.08, a quick ratio of 1.27 and a debt-to-equity ratio of 84.23.

Aecon Group (TSE:ARE) last announced its earnings results on Thursday, July 30th. The company reported C$0.33 earnings per share for the quarter. The firm had revenue of C$1.63 billion during the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. Equities research analysts predict that Aecon Group Inc. will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were given a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, June 23rd. Aecon Group’s payout ratio is currently -80.53%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ARE shares. National Bank Financial raised their target price on shares of Aecon Group from C$59.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Raymond James Financial raised Aecon Group from a “hold” rating to a “moderate buy” rating and increased their price target for the stock from C$52.00 to C$60.00 in a research note on Friday, July 3rd. Stifel Nicolaus upgraded Aecon Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$46.00 to C$54.00 in a report on Friday, June 26th. Desjardins lifted their price objective on Aecon Group from C$55.00 to C$61.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Finally, TD dropped their target price on Aecon Group from C$62.00 to C$61.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Aecon Group presently has an average rating of “Moderate Buy” and an average price target of C$55.08.

Aecon Group Company Profile

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.