Aecon Group (TSE:ARE) Price Target Cut to C$61.00 by Analysts at TD

Aecon Group (TSE:ARE) had its price target dropped by TD from C$62.00 to C$61.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price target suggests a potential upside of 38.73% from the company’s previous close.

A number of other research firms also recently commented on ARE. Stifel Nicolaus dropped their price objective on Aecon Group from C$46.00 to C$44.50 and set a “hold” rating on the stock in a report on Thursday, April 30th. BMO Capital Markets upped their price target on Aecon Group from C$45.00 to C$49.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Canaccord Genuity Group boosted their target price on shares of Aecon Group from C$52.00 to C$56.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. National Bank Financial raised 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, ATB Cormark Capital Markets lifted their price target on shares of Aecon Group from C$42.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Aecon Group presently has a consensus rating of “Hold” and a consensus target price of C$53.33.

Aecon Group Stock Performance

ARE traded up C$0.21 on Friday, hitting C$43.97. 287,810 shares of the company’s stock were exchanged, compared to its average volume of 480,258. Aecon Group has a twelve month low of C$17.06 and a twelve month high of C$57.72. The firm has a market cap of C$3.01 billion, a PE ratio of 79.95, a P/E/G ratio of 18.18 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.27 and a debt-to-equity ratio of 42.80. The stock has a fifty day moving average of C$47.01 and a two-hundred day moving average of C$40.34.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Tuesday, April 28th. The company reported C($0.21) earnings per share (EPS) for the quarter. The business 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%. On average, research analysts anticipate that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

Insider Activity at Aecon Group

In other Aecon Group news, Director John Michael Beck sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 201,417 shares in the company, valued at approximately C$10,024,524.09. This represents a 9.03% decrease in their ownership of the stock. Also, insider Ernest Chan sold 521 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the transaction, the insider directly owned 11,003 shares of the company’s stock, valued at C$606,155.27. This represents a 4.52% decrease in their ownership of the stock. Insiders sold 23,451 shares of company stock valued at $1,177,370 in the last three months. Corporate insiders own 0.82% of the company’s stock.

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.