Aecon Group (TSE:ARE) Stock Price Expected to Rise, TD Securities Analyst Says

Aecon Group (TSE:ARE) had its target price hoisted by TD Securities from C$22.00 to C$23.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 15.93% from the company’s current price.

Several other brokerages have also recently commented on ARE. National Bank Financial cut Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 14th. CIBC lowered their target price on Aecon Group from C$31.00 to C$24.00 in a research note on Friday, April 25th. Raymond James Financial decreased their price target on shares of Aecon Group from C$23.00 to C$21.00 in a report on Monday, April 28th. Stifel Canada upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 17th. Finally, Stifel Nicolaus lowered their price target on shares of Aecon Group from C$16.00 to C$14.00 in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$22.70.

Aecon Group Stock Up 3.7%

Shares of TSE:ARE opened at C$19.84 on Tuesday. The firm has a 50 day simple moving average of C$19.72 and a 200 day simple moving average of C$19.76. Aecon Group has a 52 week low of C$15.21 and a 52 week high of C$29.70. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. The company has a market cap of C$1.26 billion, a PE ratio of -19.52, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13.

Insiders Place Their Bets

In related news, Director Scott William Thon acquired 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were acquired at an average cost of C$19.21 per share, with a total value of C$201,705.00. Also, Director Leslie Compton Kass bought 6,325 shares of Aecon Group stock in a transaction that occurred on Tuesday, June 10th. The stock was bought at an average price of C$19.44 per share, with a total value of C$122,953.83. Insiders have acquired 21,825 shares of company stock valued at $419,159 over the last three months. 0.82% of the stock is currently owned by insiders.

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.