Aecon Group (TSE:ARE) Raised to “Outperform” at Raymond James Financial

Aecon Group (TSE:ARE) was upgraded by research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued on Friday,BayStreet.CA reports. The firm presently has a C$60.00 target price on the stock, up from their prior target price of C$52.00. Raymond James Financial’s price objective would suggest a potential upside of 16.87% from the stock’s previous close.

A number of other research firms have also recently issued reports on ARE. Stifel Nicolaus upgraded Aecon Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$46.00 to C$54.00 in a report on Friday, June 26th. Jefferies Financial Group lifted their target price on Aecon Group from C$49.00 to C$59.00 in a research report on Monday, April 27th. TD Securities upped their price target on shares of Aecon Group from C$47.00 to C$49.00 and gave the stock a “buy” rating in a report on Monday, March 30th. TD reduced their price target on shares of Aecon Group from C$62.00 to C$61.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Finally, BMO Capital Markets lifted their price objective on shares of Aecon Group from C$45.00 to C$49.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Aecon Group has a consensus rating of “Moderate Buy” and an average target price of C$54.08.

Aecon Group Price Performance

TSE ARE traded up C$1.83 during trading on Friday, hitting C$51.34. 203,544 shares of the stock traded hands, compared to its average volume of 484,157. The company has a quick ratio of 1.27, a current ratio of 1.16 and a debt-to-equity ratio of 42.80. Aecon Group has a 12-month low of C$17.06 and a 12-month high of C$57.72. The firm has a 50-day simple moving average of C$46.96 and a 200-day simple moving average of C$40.85. The company has a market capitalization of C$3.52 billion, a P/E ratio of 93.35, a price-to-earnings-growth ratio of 18.18 and a beta of 1.36.

Aecon Group (TSE:ARE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share for the quarter. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%.The business had revenue of C$1.26 billion during the quarter. As a group, analysts predict that Aecon Group will post 1.3793321 EPS for the current year.

Insider Transactions at Aecon Group

In other news, 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 in the company, valued at approximately C$606,155.27. This trade represents a 4.52% decrease in their ownership of the stock. Also, Director John Michael Beck sold 20,000 shares of Aecon Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$49.77, for a total transaction of C$995,400.00. Following the transaction, the director directly owned 201,417 shares in the company, valued at approximately C$10,024,524.09. The trade was a 9.03% decrease in their ownership of the stock. In the last quarter, insiders sold 23,451 shares of company stock valued at $1,177,370. Company insiders own 0.82% of the company’s stock.

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.