National Bank Financial Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Aecon Group (TSE:ARE) had its price objective boosted by equities researchers at National Bank Financial from C$35.00 to C$45.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 10.67% from the stock’s previous close.

A number of other equities analysts have also issued reports on ARE. Stifel Nicolaus decreased their target price on shares of Aecon Group from C$34.25 to C$28.75 and set a “hold” rating for the company in a research report on Monday. ATB Cormark Capital Markets lifted their price target on Aecon Group from C$35.00 to C$39.00 and gave the company a “sector perform” rating in a report on Monday. TD Securities boosted their price objective on shares of Aecon Group from C$39.00 to C$47.00 in a research report on Monday. Finally, Canaccord Genuity Group raised their price target on Aecon Group from C$40.00 to C$52.00 and gave the stock a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$37.48.

Aecon Group Stock Performance

Shares of TSE:ARE traded up C$0.25 during trading hours on Monday, hitting C$40.66. The stock had a trading volume of 454,598 shares, compared to its average volume of 385,928. The stock’s fifty day simple moving average is C$35.12 and its 200 day simple moving average is C$29.25. The firm has a market capitalization of C$2.57 billion, a price-to-earnings ratio of 290.43, a PEG ratio of 18.18 and a beta of 1.10. The company has a debt-to-equity ratio of 65.17, a quick ratio of 1.27 and a current ratio of 1.10. Aecon Group has a 1-year low of C$15.21 and a 1-year high of C$41.90.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 earnings per share (EPS) for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The business had revenue of C$1.54 billion during the quarter. Sell-side analysts anticipate that Aecon Group 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.