Aecon Group (TSE:ARE) Reaches New 52-Week High – Here’s What Happened

Shares of Aecon Group Inc. (TSE:ARE) hit a new 52-week high on Wednesday . The stock traded as high as C$35.50 and last traded at C$34.67, with a volume of 127642 shares traded. The stock had previously closed at C$34.80.

Analysts Set New Price Targets

ARE has been the subject of several research analyst reports. Desjardins downgraded Aecon Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$22.00 to C$35.00 in a research note on Friday, October 31st. ATB Capital lowered shares of Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$28.00 to C$32.00 in a report on Friday, October 31st. Stifel Nicolaus upped their price objective on shares of Aecon Group from C$24.00 to C$30.00 in a research report on Friday, October 31st. Raymond James Financial lowered shares of Aecon Group from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$26.00 to C$33.00 in a research report on Friday, October 31st. Finally, Royal Bank Of Canada upped their price target on shares of Aecon Group from C$26.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$33.00.

Aecon Group Stock Down 1.2%

The company has a market cap of C$2.23 billion, a price-to-earnings ratio of 252.14, a P/E/G ratio of 18.18 and a beta of 1.51. The stock’s 50-day moving average is C$31.25 and its 200-day moving average is C$25.99. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Wednesday, October 29th. The company reported C$0.53 earnings per share for the quarter. The business had revenue of C$1.53 billion for the quarter. Aecon Group had a negative return on equity of 6.40% and a negative net margin of 1.56%. On average, analysts anticipate that Aecon Group Inc. will post 1.3793321 earnings per share for the current fiscal year.

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.