Aecon Group (TSE:ARE) PT Raised to C$23.00

Aecon Group (TSE:ARE) had its price objective boosted by research analysts at CIBC from C$22.00 to C$23.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 34.90% from the stock’s current price.

A number of other brokerages have also recently weighed in on ARE. ATB Capital raised their price objective on shares of Aecon Group from C$15.25 to C$19.50 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Royal Bank of Canada raised their price objective on shares of Aecon Group from C$10.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 7th. Canaccord Genuity Group raised their price objective on shares of Aecon Group from C$14.00 to C$26.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Raymond James raised their price objective on shares of Aecon Group from C$14.00 to C$16.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Finally, Stifel Nicolaus raised their price objective on shares of Aecon Group from C$17.00 to C$18.25 in a research note on Friday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$19.17.

Aecon Group Price Performance

ARE stock opened at C$17.05 on Friday. The firm has a 50 day moving average of C$16.15 and a 200-day moving average of C$13.58. Aecon Group has a 12-month low of C$8.42 and a 12-month high of C$17.40. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. The company has a market cap of C$1.06 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.04. Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. The company had revenue of C$846.59 million during the quarter, compared to the consensus estimate of C$1.03 billion. As a group, equities analysts expect that Aecon Group will post 0.7603047 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the stock in a transaction on Tuesday, March 26th. The stock was purchased at an average cost of C$13.07 per share, with a total value of C$55,299.17. In related news, Director Stuart Lee acquired 7,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of C$16.33 per share, with a total value of C$114,310.00. Also, Senior Officer Adam Robert Borgatti acquired 4,231 shares of the stock in a transaction dated Tuesday, March 26th. The shares were bought at an average cost of C$13.07 per share, with a total value of C$55,299.17. 1.72% of the stock is owned by corporate insiders.

Aecon Group Company Profile

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.