Raymond James Financial Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price objective increased by Raymond James Financial from C$33.00 to C$41.00 in a research report released on Tuesday morning,BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.

Several other research firms have also commented on ARE. Stifel Nicolaus dropped their target price on Aecon Group from C$34.25 to C$28.75 and set a “hold” rating for the company in a research note on Monday. TD Securities raised their price target on Aecon Group from C$39.00 to C$47.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group lifted their price target on Aecon Group from C$40.00 to C$52.00 and gave the company a “buy” rating in a report on Monday. ATB Cormark Capital Markets upped their price objective on shares of Aecon Group from C$35.00 to C$39.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, National Bank Financial increased their price objective on shares of Aecon Group from C$35.00 to C$45.00 and gave the stock an “outperform” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$39.38.

Aecon Group Stock Up 2.8%

ARE stock opened at C$41.93 on Tuesday. The company has a 50 day moving average price of C$35.51 and a two-hundred day moving average price of C$29.54. The company has a debt-to-equity ratio of 65.17, a quick ratio of 1.27 and a current ratio of 1.10. The stock has a market capitalization of C$2.65 billion, a P/E ratio of 299.50, a PEG ratio of 18.18 and a beta of 1.10. Aecon Group has a one year low of C$15.21 and a one year high of C$42.40.

Aecon Group (TSE:ARE) last issued its quarterly earnings results on Thursday, March 5th. The company reported C$0.52 earnings per share for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The company had revenue of C$1.54 billion for the quarter. As a group, sell-side analysts expect that Aecon Group will post 1.3793321 EPS for the current year.

More Aecon Group News

Here are the key news stories impacting Aecon Group this week:

• Positive Sentiment: Canaccord Genuity raised its target to C$52.00 and kept a “buy” rating — the most bullish call, implying ~27.5% upside from the recent reference price. BayStreet.CA TickerReport
• Positive Sentiment: TD Securities raised its target to C$47.00 and maintains a “buy” rating, signaling material upside versus recent levels. BayStreet.CA
• Positive Sentiment: National Bank Financial bumped its target to C$45.00 and set an “outperform” rating — another institutional endorsement of upside. BayStreet.CA
• Neutral Sentiment: Royal Bank of Canada raised its target to C$41.00 but kept a “sector perform” call (target now roughly in line with recent levels). BayStreet.CA
• Neutral Sentiment: Raymond James raised its target to C$41.00 with a “market perform” rating — an upgrade in target but still a neutral stance. BayStreet.CA
• Neutral Sentiment: ATB Cormark raised its target to C$39.00 and kept “sector perform,” a modest move that remains close to recent prices. BayStreet.CA
• Negative Sentiment: Stifel Nicolaus cut its target to C$28.75 and maintained a “hold,” the most bearish call and the largest downside among recent updates. BayStreet.CA

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.