Aecon Group (TSE:ARE) Price Target Raised to C$44.00 at Canadian Imperial Bank of Commerce

Aecon Group (TSE:ARE) had its price objective boosted by research analysts at Canadian Imperial Bank of Commerce from C$38.75 to C$44.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Canadian Imperial Bank of Commerce’s price objective indicates a potential upside of 5.09% from the company’s current price.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus cut 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, March 9th. Royal Bank Of Canada lifted their price target on Aecon Group from C$30.00 to C$41.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 10th. National Bank Financial upped their price objective on Aecon Group from C$35.00 to C$45.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. TD Securities increased their price objective on Aecon Group from C$47.00 to C$49.00 and gave the stock a “buy” rating in a research report on Monday. Finally, BMO Capital Markets boosted their target price on shares of Aecon Group from C$40.00 to C$45.00 and gave the stock an “outperform” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$43.58.

Aecon Group Stock Performance

Shares of ARE traded up C$0.44 during mid-day trading on Tuesday, hitting C$41.87. 239,855 shares of the company’s stock were exchanged, compared to its average volume of 494,324. The company has a current ratio of 1.10, a quick ratio of 1.27 and a debt-to-equity ratio of 65.17. Aecon Group has a fifty-two week low of C$15.21 and a fifty-two week high of C$44.71. The business’s 50 day moving average is C$38.21 and its two-hundred day moving average is C$31.61. The firm has a market capitalization of C$2.68 billion, a P/E ratio of 182.04, a P/E/G ratio of 18.18 and a beta of 1.10.

Aecon Group (TSE:ARE) last released its earnings results on Thursday, March 5th. The company reported C$0.52 EPS for the quarter. The company had revenue of C$1.54 billion during the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. On average, equities analysts expect that Aecon Group will post 1.3793321 earnings per share 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.