Aecon Group (TSE:ARE) Stock Rating Lowered by CIBC

Aecon Group (TSE:ARE) was downgraded by analysts at CIBC from an “outperform” rating to a “neutral” rating in a report issued on Friday,BayStreet.CA reports. They currently have a C$35.00 price objective on the stock, up from their prior price objective of C$29.00. CIBC’s price objective suggests a potential upside of 13.20% from the stock’s current price.

A number of other research firms have also commented on ARE. Raymond James Financial lowered shares of Aecon Group from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from C$26.00 to C$33.00 in a research report on Friday. National Bankshares boosted their target price on Aecon Group from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. BMO Capital Markets boosted their target price on Aecon Group from C$25.00 to C$30.00 in a research report on Friday. TD Securities upped their target price on Aecon Group from C$23.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, Desjardins cut Aecon Group from a “buy” rating to a “hold” rating and raised their price target for the company from C$22.00 to C$35.00 in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Aecon Group presently has an average rating of “Moderate Buy” and a consensus target price of C$31.36.

Aecon Group Stock Performance

Aecon Group stock opened at C$30.92 on Friday. The firm’s 50 day simple moving average is C$23.90 and its 200 day simple moving average is C$20.82. 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 capitalization of C$1.96 billion, a PE ratio of 220.86, a price-to-earnings-growth ratio of 18.18 and a beta of 1.48. Aecon Group has a 1-year low of C$15.21 and a 1-year high of C$35.10.

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.