Aecon Group (TSE:ARE) Hits New 12-Month High – Here’s What Happened

Aecon Group Inc. (TSE:ARE)’s share price hit a new 52-week high on Thursday . The company traded as high as C$38.56 and last traded at C$38.51, with a volume of 125726 shares traded. The stock had previously closed at C$37.94.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARE. Raymond James Financial downgraded shares of Aecon Group from a “moderate buy” rating to a “hold” rating and boosted their price objective for the company from C$26.00 to C$33.00 in a research report on Friday, October 31st. Canaccord Genuity Group raised their target price on Aecon Group from C$29.00 to C$40.00 and gave the company a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus boosted their price target on Aecon Group from C$30.00 to C$34.25 and gave the stock a “hold” rating in a report on Friday, February 6th. Desjardins downgraded Aecon Group from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$22.00 to C$35.00 in a research report on Friday, October 31st. Finally, Royal Bank Of Canada lifted their target price on Aecon Group from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Aecon Group has a consensus rating of “Hold” and an average price target of C$33.43.

Aecon Group Trading Down 1.5%

The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. The firm has a market cap of C$2.41 billion, a price-to-earnings ratio of 271.50, a PEG ratio of 18.18 and a beta of 1.36. The business has a fifty day simple moving average of C$34.44 and a 200-day simple moving average of C$28.49.

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.