Aecon Group (TSE:ARE) Rating Lowered to “Hold” at Desjardins

Aecon Group (TSE:ARE) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a C$35.00 price objective on the stock, up from their prior price objective of C$22.00. Desjardins’ price objective indicates a potential upside of 13.20% from the company’s previous close.

ARE has been the topic of several other research reports. Canaccord Genuity Group boosted their target price on Aecon Group from C$25.00 to C$29.00 in a research note on Monday, October 6th. CIBC lifted their price objective on shares of Aecon Group from C$24.00 to C$29.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Raymond James Financial cut shares of Aecon Group from a “moderate buy” rating to a “hold” rating and increased their target price for the stock from C$26.00 to C$33.00 in a report on Friday. Stifel Nicolaus raised their target price on shares of Aecon Group from C$24.00 to C$30.00 in a research report on Friday. Finally, National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Aecon Group currently has a consensus rating of “Moderate Buy” and an average target price of C$31.36.

Aecon Group Stock Performance

ARE opened at C$30.92 on Friday. The company has a market capitalization of C$1.96 billion, a price-to-earnings ratio of 220.86, a P/E/G ratio of 18.18 and a beta of 1.48. The business’s 50-day moving average price is C$23.90 and its two-hundred day moving average price is C$20.82. Aecon Group has a 1 year low of C$15.21 and a 1 year high of C$35.10. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27.

Aecon Group Company Profile

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.