Aecon Group (TSE:ARE) Share Price Passes Above 200-Day Moving Average – What’s Next?

Aecon Group Inc. (TSE:ARE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.44 and traded as high as C$34.70. Aecon Group shares last traded at C$33.99, with a volume of 369,103 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARE. Desjardins cut shares of Aecon Group from a “buy” rating to a “hold” rating and increased their price target for the stock from C$22.00 to C$35.00 in a research report on Friday, October 31st. Stifel Nicolaus increased their target price on shares of Aecon Group from C$24.00 to C$30.00 in a report on Friday, October 31st. CIBC downgraded shares of Aecon Group from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from C$29.00 to C$35.00 in a research note on Friday, October 31st. TD Securities upped their price objective on Aecon Group from C$34.00 to C$39.00 and gave the stock a “buy” rating in a research report on Sunday, November 2nd. Finally, Atb Cap Markets lowered Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$33.00.

Aecon Group Stock Performance

The stock’s 50-day simple moving average is C$30.22 and its 200 day simple moving average is C$25.44. The company has a market capitalization of C$2.15 billion, a PE ratio of 242.79, a P/E/G ratio of 18.18 and a beta of 1.51. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19.

Aecon Group (TSE:ARE) last issued its earnings results on Wednesday, October 29th. The company reported C$0.53 EPS for the quarter. The firm had revenue of C$1.53 billion during the quarter. Aecon Group had a negative net margin of 1.56% and a negative return on equity of 6.40%. As a group, research analysts expect that Aecon Group Inc. will post 1.3793321 earnings per share 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.