National Bank Financial Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Aecon Group (TSE:ARE) had its target price increased by equities research analysts at National Bank Financial from C$66.00 to C$70.00 in a research report issued on Monday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial‘s price objective would indicate a potential upside of 34.62% from the stock’s current price.

A number of other equities research analysts have also weighed in on ARE. Raymond James Financial raised their price objective on Aecon Group from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research note on Friday. Desjardins lifted their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the company a “hold” rating in a report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$60.00.

Aecon Group Trading Up 5.6%

TSE:ARE traded up C$2.77 during mid-day trading on Monday, reaching C$52.00. The company’s stock had a trading volume of 450,212 shares, compared to its average volume of 468,965. Aecon Group has a twelve month low of C$25.05 and a twelve month high of C$59.96. The company has a debt-to-equity ratio of 56.97, a current ratio of 1.10 and a quick ratio of 1.27. The company’s fifty day simple moving average is C$49.31 and its two-hundred day simple moving average is C$45.25. The stock has a market cap of C$3.57 billion, a P/E ratio of -67.53, a P/E/G ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Thursday, October 29th. The company reported C$0.86 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 5.32% and a negative net margin of 0.83%. On average, equities analysts predict that Aecon Group will post 1.38 EPS for the current year.

Insiders Place Their Bets

In related news, insider Steven Neil Nackan sold 4,500 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total value of C$204,975.00. Following the completion of the sale, the insider directly owned 8,035 shares of the company’s stock, valued at approximately C$365,994.25. This represents a 35.90% decrease in their position. Also, Director Scott Stewart acquired 4,455 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were acquired 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 trade represents a 22.24% increase in their position. Insiders have sold a total of 7,500 shares of company stock valued at $343,875 in the last quarter. Insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

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.