Aecon Group (TSE:ARE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Aecon Group (TSE:ARE) had its price objective boosted by Canaccord Genuity Group from C$56.00 to C$57.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 28.06% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Aecon Group from C$45.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada boosted their price target on shares of Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Stifel Nicolaus raised Aecon Group from a “hold” rating to a “buy” rating and lifted their target price for the company from C$46.00 to C$54.00 in a research note on Friday. National Bank Financial lifted their price objective on shares of Aecon Group from C$48.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Raymond James Financial lowered their target price on shares of Aecon Group from C$54.00 to C$52.00 and set a “market perform” rating on the stock in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$53.42.

Aecon Group Trading Up 1.0%

TSE:ARE traded up C$0.45 on Monday, reaching C$44.51. The stock had a trading volume of 109,954 shares, compared to its average volume of 478,728. The company has a market cap of C$3.05 billion, a price-to-earnings ratio of 80.93, a P/E/G ratio of 18.18 and a beta of 1.36. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. Aecon Group has a 12-month low of C$17.06 and a 12-month high of C$57.72. The firm’s fifty day moving average is C$46.96 and its two-hundred day moving average is C$40.43.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Tuesday, April 28th. The company reported C($0.21) EPS for the quarter. The firm had revenue of C$1.26 billion for the quarter. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%. Equities analysts expect that Aecon Group will post 1.3793321 EPS for the current fiscal year.

Insider Buying and Selling at Aecon Group

In other news, Director John Michael Beck sold 20,000 shares of Aecon Group 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 of the company’s stock, valued at approximately C$10,024,524.09. This trade represents a 9.03% decrease in their position. Also, insider Timothy John Murphy sold 2,930 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$52.31, for a total value of C$153,268.30. Following the completion of the transaction, the insider owned 4,801 shares in the company, valued at approximately C$251,140.31. This represents a 37.90% decrease in their position. In the last 90 days, insiders sold 23,451 shares of company stock worth $1,177,370. 0.82% of the stock is currently owned by corporate insiders.

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.