Aecon Group (TSE:ARE) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Aecon Group Inc. (TSE:ARE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$24.93 and traded as high as C$33.30. Aecon Group shares last traded at C$33.21, with a volume of 505,408 shares traded.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. CIBC downgraded shares of Aecon Group from an “outperform” rating to a “neutral” rating and boosted their price target for the company from C$29.00 to C$35.00 in a report on Friday, October 31st. ATB Capital lowered Aecon Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$28.00 to C$32.00 in a report on Friday, October 31st. Royal Bank Of Canada raised their target price on Aecon Group from C$26.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. National Bankshares lifted their target price on Aecon Group from C$23.00 to C$26.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Desjardins downgraded shares of Aecon Group from a “buy” rating to a “hold” rating and increased their target price for the stock from C$22.00 to C$35.00 in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$33.00.

Aecon Group Price Performance

The stock’s 50-day moving average is C$29.66 and its 200-day moving average is C$24.93. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84. The firm has a market cap of C$2.10 billion, a P/E ratio of 237.21, a price-to-earnings-growth ratio of 18.18 and a beta of 1.51.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Wednesday, October 29th. The company reported C$0.53 earnings per share (EPS) for the quarter. The business had revenue of C$1.53 billion for the quarter. Aecon Group had a negative return on equity of 6.40% and a negative net margin of 1.56%. As a group, equities analysts anticipate that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

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. Aecon generates the majority of its revenue from the Construction segment.