Stifel Nicolaus Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Aecon Group (TSE:ARE) had its target price boosted by equities research analysts at Stifel Nicolaus from C$24.00 to C$30.00 in a research report issued on Friday,BayStreet.CA reports. Stifel Nicolaus’ target price indicates a potential downside of 2.98% from the company’s previous close.

A number of other research firms have also issued reports on ARE. Canaccord Genuity Group increased their target price on Aecon Group from C$25.00 to C$29.00 in a research note on Monday, October 6th. TD Securities upped their price target on Aecon Group from C$23.00 to C$34.00 and gave the stock a “buy” rating in a report on Monday, October 27th. ATB Capital dropped their price objective 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. CIBC boosted their target price on shares of Aecon Group from C$24.00 to C$29.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. 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 research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$31.36.

Aecon Group Stock Down 3.9%

Shares of TSE ARE opened at C$30.92 on Friday. The stock has a fifty day moving average price of C$23.90 and a 200 day moving average price of 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. Aecon Group has a 12-month low of C$15.21 and a 12-month high of C$35.10. The company has a market cap of C$1.96 billion, a P/E ratio of 220.86, a P/E/G ratio of 18.18 and a beta of 1.48.

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.