Aecon Group (TSE:ARE) Cut to Hold at National Bank Financial

National Bank Financial downgraded shares of Aecon Group (TSE:ARE) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

ARE has been the subject of a number of other research reports. CIBC dropped their price target on shares of Aecon Group from C$31.00 to C$24.00 in a research note on Friday, April 25th. BMO Capital Markets dropped their price target on shares of Aecon Group from C$20.00 to C$19.00 in a research note on Friday, April 25th. Stifel Canada upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 17th. TD Securities dropped their price target on shares of Aecon Group from C$23.00 to C$20.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Royal Bank Of Canada dropped their price target on shares of Aecon Group from C$18.00 to C$17.00 in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Aecon Group presently has an average rating of “Moderate Buy” and an average price target of C$22.90.

Aecon Group Trading Up 0.2%

TSE ARE opened at C$20.23 on Monday. The company’s fifty day simple moving average is C$19.55 and its 200-day simple moving average is C$20.41. Aecon Group has a 52 week low of C$13.03 and a 52 week high of C$29.70. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84. The stock has a market cap of C$1.28 billion, a P/E ratio of -19.90, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, July 3rd were given a dividend of $0.19 per share. The ex-dividend date was Monday, June 23rd. This represents a $0.76 annualized dividend and a dividend yield of 3.76%. Aecon Group’s dividend payout ratio is currently -74.76%.

Insider Transactions at Aecon Group

In other news, Director Deborah Susan Stein purchased 5,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was acquired at an average price of C$18.90 per share, for a total transaction of C$94,500.00. Also, Director Leslie Compton Kass purchased 6,325 shares of the stock in a transaction dated Tuesday, June 10th. The shares were purchased at an average price of C$19.44 per share, with a total value of C$122,953.83. Over the last quarter, insiders bought 21,825 shares of company stock worth $419,159. 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.