Analysts Set Aecon Group Inc. (TSE:ARE) Price Target at C$55.08

Aecon Group Inc. (TSE:ARE) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$55.08.

A number of research firms have issued reports on ARE. Stifel Nicolaus upgraded Aecon Group from a “hold” rating to a “buy” rating and lifted their price target for the company from C$46.00 to C$54.00 in a research note on Friday, June 26th. Desjardins raised their target price on Aecon Group from C$55.00 to C$61.00 and gave the company a “hold” rating in a report on Monday, July 6th. Canaccord Genuity Group lifted their target price on Aecon Group from C$56.00 to C$57.00 and gave the company a “buy” rating in a research report on Monday, June 29th. National Bank Financial upped their price target on Aecon Group from C$59.00 to C$65.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Raymond James Financial raised shares of Aecon Group from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$52.00 to C$60.00 in a research report on Friday, July 3rd.

Insider Transactions at Aecon Group

In other Aecon Group news, Director Scott Stewart acquired 4,455 shares of the company’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 directly owned 24,484 shares in the company, 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 stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the transaction, the insider owned 8,035 shares of the company’s stock, valued at C$365,994.25. This represents a 35.90% decrease in their position. Insiders sold a total of 7,500 shares of company stock worth $343,875 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

Aecon Group Stock Performance

Shares of ARE stock opened at C$45.06 on Friday. Aecon Group has a 1-year low of C$20.58 and a 1-year high of C$57.72. The company has a current ratio of 1.08, a quick ratio of 1.27 and a debt-to-equity ratio of 84.23. The stock has a market cap of C$3.09 billion, a price-to-earnings ratio of -47.43, a PEG ratio of 18.18 and a beta of 1.39. The stock has a 50-day moving average of C$47.33 and a 200-day moving average of C$45.44.

Aecon Group (TSE:ARE) last announced its earnings results on Thursday, July 30th. The company reported C$0.33 earnings per share for the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. The business had revenue of C$1.63 billion during the quarter. On average, equities research analysts forecast that Aecon Group will post 1.3793321 earnings per share for the current year.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, June 23rd. Aecon Group’s dividend payout ratio is currently -80.53%.

Aecon Group Company Profile

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.