Aecon Group (TSE:ARE) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Aecon Group Inc. (TSE:ARE) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$38.53 and traded as high as C$45.80. Aecon Group shares last traded at C$45.57, with a volume of 288,851 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARE. Jefferies Financial Group raised their price target on shares of Aecon Group from C$49.00 to C$59.00 in a research note on Monday, April 27th. Royal Bank Of Canada raised their price target on shares of Aecon Group from C$44.00 to C$49.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Desjardins raised their price target on shares of Aecon Group from C$45.00 to C$52.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. National Bank Financial raised their target price on shares of Aecon Group from C$48.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Canaccord Genuity Group raised their target price on shares of Aecon Group from C$52.00 to C$56.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$52.29.

Aecon Group Stock Performance

The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. The stock’s 50-day simple moving average is C$46.82 and its 200 day simple moving average is C$38.58. The stock has a market capitalization of C$3.11 billion, a P/E ratio of 82.62, a PEG ratio of 18.18 and a beta of 1.36.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Tuesday, April 28th. The company reported C($0.21) EPS for the quarter. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%.The company had revenue of C$1.26 billion for the quarter. Research analysts expect that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, March 23rd. Aecon Group’s dividend payout ratio (DPR) is currently 138.64%.

Insider Buying and Selling at Aecon Group

In related news, Director Eric Stuart Rosenfeld sold 125,000 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the transaction, the director directly owned 184,200 shares of the company’s stock, valued at approximately C$7,670,088. This trade represents a 40.43% decrease in their ownership of the stock. Also, insider Timothy John Murphy sold 2,930 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$52.31, for a total transaction of C$153,268.30. Following the transaction, the insider directly owned 4,801 shares in the company, valued at approximately C$251,140.31. This represents a 37.90% decrease in their ownership of the stock. Insiders sold a total of 148,451 shares of company stock valued at $6,382,370 in the last three months. 0.82% of the stock is owned by insiders.

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.