Aecon Group (TSE:ARE) Stock Crosses Above 200 Day Moving Average – What’s Next?

Aecon Group Inc. (TSE:ARE)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$19.40 and traded as high as C$20.56. Aecon Group shares last traded at C$20.35, with a volume of 281,359 shares.

Wall Street Analysts Forecast Growth

ARE has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price target on shares of Aecon Group from C$16.00 to C$14.00 in a research note on Friday, April 25th. National Bank Financial raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 1st. TD Securities raised their price target on shares of Aecon Group from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada reduced their price target on shares of Aecon Group from C$18.00 to C$17.00 in a research note on Friday, April 25th. Finally, ATB Capital reduced their price target on shares of Aecon Group from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$22.70.

Aecon Group Stock Up 1.6%

The business’s 50-day simple moving average is C$19.99 and its 200 day simple moving average is C$19.40. 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 firm has a market cap of C$1.29 billion, a PE ratio of -20.02, a P/E/G ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, July 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.7%. Aecon Group’s payout ratio is presently -74.76%.

Insider Transactions at Aecon Group

In other news, Director Deborah Susan Stein acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of C$18.90 per share, with a total value of C$94,500.00. Also, Director Leslie Compton Kass acquired 6,325 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was purchased at an average cost of C$19.44 per share, for a total transaction of C$122,953.83. Insiders have bought a total of 21,825 shares of company stock valued at $419,159 in the last 90 days. 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.