Raymond James Financial Lowers Aecon Group (TSE:ARE) Price Target to C$52.00

Aecon Group (TSE:ARE) had its target price lowered by equities research analysts at Raymond James Financial from C$54.00 to C$52.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. Raymond James Financial’s target price suggests a potential upside of 18.26% from the stock’s current price.

A number of other brokerages also recently issued reports on ARE. Canadian Imperial Bank of Commerce increased their target price on Aecon Group from C$45.00 to C$48.00 in a research note on Thursday, April 9th. National Bank Financial upped their price objective on Aecon Group from C$48.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Canaccord Genuity Group increased their target price on shares of Aecon Group from C$52.00 to C$56.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Stifel Nicolaus raised shares of 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 research note on Friday. Finally, Jefferies Financial Group increased their price objective on Aecon Group from C$49.00 to C$59.00 in a research note on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Aecon Group currently has an average rating of “Hold” and an average target price of C$53.33.

Aecon Group Stock Performance

ARE traded up C$0.21 during trading on Friday, hitting C$43.97. The stock had a trading volume of 287,810 shares, compared to its average volume of 480,258. The firm has a market capitalization of C$3.01 billion, a P/E ratio of 79.95, a PEG ratio of 18.18 and a beta of 1.36. The company has a debt-to-equity ratio of 42.80, a quick ratio of 1.27 and a current ratio of 1.16. Aecon Group has a twelve month low of C$17.06 and a twelve month high of C$57.72. The company’s 50-day moving average price is C$47.01 and its 200 day moving average price is C$40.34.

Aecon Group (TSE:ARE) last issued its earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share for the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. The firm had revenue of C$1.26 billion during the quarter. On average, equities research analysts forecast that Aecon Group will post 1.3793321 EPS for the current fiscal year.

Insider Activity

In related news, Director John Michael Beck sold 20,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of C$49.77, for a total value of C$995,400.00. Following the completion of the sale, the director directly owned 201,417 shares in the company, valued at approximately C$10,024,524.09. This represents a 9.03% decrease in their position. Also, insider Ernest Chan sold 521 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of C$55.09, for a total value of C$28,701.89. Following the completion of the transaction, the insider directly owned 11,003 shares in the company, valued at C$606,155.27. This trade represents a 4.52% decrease in their ownership of the stock. In the last 90 days, insiders have sold 23,451 shares of company stock valued at $1,177,370. Company insiders own 0.82% of the company’s stock.

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.