Aecon Group (TSE:ARE) Price Target Raised to C$60.00

Aecon Group (TSE:ARE) had its price target raised by Desjardins from C$58.00 to C$60.00 in a research note published on Monday,BayStreet reports. Desjardins currently has a hold rating on the stock.

A number of other brokerages also recently issued reports on ARE. Raymond James Financial lifted their price target on Aecon Group from C$60.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday, October 30th. National Bank Financial upped their price objective on Aecon Group from C$66.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$60.92.

Aecon Group Stock Performance

Shares of TSE:ARE opened at C$56.31 on Monday. The company has a market capitalization of C$3.86 billion, a price-to-earnings ratio of -73.13, a price-to-earnings-growth ratio of 18.18 and a beta of 0.88. Aecon Group has a 52 week low of C$25.05 and a 52 week high of C$59.96. The company has a quick ratio of 1.27, a current ratio of 1.10 and a debt-to-equity ratio of 56.97. The firm has a 50 day moving average of C$50.00 and a 200 day moving average of C$45.59.

Aecon Group (TSE:ARE) last posted its earnings results on Thursday, October 29th. The company reported C$0.86 earnings per share for the quarter. The company had revenue of C$1.92 billion during the quarter. Aecon Group had a negative return on equity of 5.32% and a negative net margin of 0.83%. On average, sell-side analysts predict that Aecon Group will post 1.38 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd were paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, September 22nd. Aecon Group’s dividend payout ratio (DPR) is -99.68%.

Insider Buying and Selling at Aecon Group

In other news, Director Scott Stewart purchased 4,455 shares of the business’s stock in a transaction on Friday, August 28th. The shares were acquired at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the acquisition, the director owned 24,484 shares of the company’s stock, valued at C$1,099,086.76. This trade 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 value of C$204,975.00. Following the transaction, the insider directly owned 8,035 shares in the company, valued at approximately C$365,994.25. The trade was a 35.90% decrease in their ownership of the stock. Insiders sold 6,500 shares of company stock worth $296,155 over the last ninety days. Corporate 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.