Aecon Group (TSE:ARE) Price Target Raised to C$65.00

Aecon Group (TSE:ARE) had its target price increased by equities researchers at Raymond James Financial from C$60.00 to C$65.00 in a report issued on Friday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial‘s price objective suggests a potential upside of 31.31% from the company’s previous close.

Several other research firms have also issued reports on ARE. Desjardins upped their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. National Bank Financial boosted their price objective on shares of Aecon Group from C$64.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$55.58.

Aecon Group Stock Down 7.4%

ARE stock traded down C$3.96 during mid-day trading on Friday, reaching C$49.50. The company had a trading volume of 751,485 shares, compared to its average volume of 466,597. The company has a market capitalization of C$3.39 billion, a price-to-earnings ratio of -52.11, a PEG ratio of 18.18 and a beta of 1.16. Aecon Group has a 52 week low of C$25.05 and a 52 week high of C$59.96. The stock has a 50 day simple moving average of C$49.22 and a two-hundred day simple moving average of C$45.17. The company has a debt-to-equity ratio of 84.23, a current ratio of 1.08 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, October 29th. The company reported C$0.86 earnings per share (EPS) for the quarter. The company had revenue of C$1.92 billion for the quarter. Aecon Group had a negative return on equity of 6.76% and a negative net margin of 1.10%. As a group, equities analysts predict that Aecon Group will post 1.38 earnings per share for the current fiscal year.

Insider Activity

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

About Aecon Group

Aecon Group Inc (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment.