Aecon Group (TSE:ARE) Hits New 52-Week High – Still a Buy?

Aecon Group Inc. (TSE:ARE) hit a new 52-week high during trading on Tuesday . The company traded as high as C$36.56 and last traded at C$36.40, with a volume of 252260 shares changing hands. The stock had previously closed at C$35.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ARE shares. Cibc Captl Mkts cut Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Stifel Nicolaus raised their target price on shares of Aecon Group from C$24.00 to C$30.00 in a research note on Friday, October 31st. Atb Cap Markets downgraded shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. TD Securities upped their price target on shares of Aecon Group from C$34.00 to C$39.00 and gave the company a “buy” rating in a report on Sunday, November 2nd. Finally, CIBC lowered Aecon Group from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from C$29.00 to C$35.00 in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$33.00.

Aecon Group Price Performance

The company’s fifty day simple moving average is C$31.64 and its 200-day simple moving average is C$26.28. The stock has a market cap of C$2.27 billion, a P/E ratio of 256.36, a price-to-earnings-growth ratio of 18.18 and a beta of 1.51. 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 (TSE:ARE) last posted its earnings results on Wednesday, October 29th. The company reported C$0.53 earnings per share for the quarter. The business had revenue of C$1.53 billion for the quarter. Aecon Group had a negative net margin of 1.56% and a negative return on equity of 6.40%. As a group, sell-side analysts forecast that Aecon Group Inc. will post 1.3793321 EPS for the current 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.