Aecon Group (TSE:ARE) Hits New 1-Year High After Analyst Upgrade

Aecon Group Inc. (TSE:ARE) reached a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from C$30.00 to C$34.25. Stifel Nicolaus currently has a hold rating on the stock. Aecon Group traded as high as C$37.49 and last traded at C$37.10, with a volume of 48622 shares trading hands. The stock had previously closed at C$37.29.

Several other analysts also recently commented on ARE. Canaccord Genuity Group upped their price objective on Aecon Group from C$29.00 to C$40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Canadian Imperial Bank of Commerce lowered Aecon Group from an “outperform” rating to a “hold” rating and boosted their target price for the company from C$29.00 to C$35.00 in a report on Friday, October 31st. ATB Capital cut Aecon Group from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from C$28.00 to C$32.00 in a research note on Friday, October 31st. TD Securities increased their price target on Aecon Group from C$34.00 to C$39.00 and gave the stock a “buy” rating in a report on Sunday, November 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Aecon Group from C$25.00 to C$30.00 in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Aecon Group has an average rating of “Moderate Buy” and a consensus target price of C$33.43.

Aecon Group Stock Performance

The stock’s fifty day simple moving average is C$32.54 and its 200-day simple moving average is C$26.87. 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 company has a market capitalization of C$2.40 billion, a PE ratio of 270.50, a PEG ratio of 18.18 and a beta of 1.36.

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

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