Aecon Group (TSE:ARE) Given New C$66.00 Price Target at National Bank Financial

Aecon Group (TSE:ARE) had its target price increased by research analysts at National Bank Financial from C$64.00 to C$66.00 in a research note issued on Thursday, BayStreet reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 30.07% from the company’s current price.

ARE has been the topic of several other reports. Desjardins increased their price objective on shares of 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. Stifel Nicolaus raised shares of Aecon Group from a “hold” rating to a “buy” rating and boosted their target price for the company from C$46.00 to C$54.00 in a research report on Friday, June 26th. 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 report on Friday, July 3rd. TD dropped their target price on shares of Aecon Group from C$62.00 to C$61.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Finally, Canaccord Genuity Group raised their price objective on Aecon Group from C$56.00 to C$57.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$55.17.

Aecon Group Stock Down 2.6%

Shares of ARE stock traded down C$1.37 during trading on Thursday, reaching C$50.74. The company’s stock had a trading volume of 390,224 shares, compared to its average volume of 468,836. The company has a quick ratio of 1.27, a current ratio of 1.08 and a debt-to-equity ratio of 84.23. The business has a fifty day moving average price of C$48.33 and a 200-day moving average price of C$47.56. The company has a market cap of C$3.48 billion, a price-to-earnings ratio of -53.41, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16. Aecon Group has a one year low of C$23.93 and a one year high of C$59.96.

Aecon Group (TSE:ARE) last issued its earnings results on Thursday, July 30th. The company reported C$0.33 earnings per share for the quarter. The business had revenue of C$1.63 billion for the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. Analysts anticipate that Aecon Group will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Scott Stewart bought 4,455 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average price of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the transaction, the director directly owned 24,484 shares in the company, valued at approximately C$1,099,086.76. This represents a 22.24% increase in their ownership of the stock. Also, insider Steven Neil Nackan sold 4,500 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the completion of the sale, the insider owned 8,035 shares of the company’s stock, valued at approximately C$365,994.25. The trade was a 35.90% decrease in their position. Over the last ninety days, insiders have sold 7,500 shares of company stock worth $343,875. 0.82% of the stock is owned by company insiders.

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.