Aecon Group (TSE:ARE) Given New C$55.00 Price Target at Desjardins

Aecon Group (TSE:ARE) had its price objective raised by investment analysts at Desjardins from C$52.00 to C$55.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ target price suggests a potential upside of 25.09% from the stock’s current price.

ARE has been the subject of a number of other reports. ATB Cormark Capital Markets boosted their price objective on shares of Aecon Group from C$42.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. National Bank Financial upped 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. TD reduced their price target on shares of Aecon Group from C$62.00 to C$61.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus lowered their price objective on shares of Aecon Group from C$46.00 to C$44.50 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Finally, BMO Capital Markets boosted their target price on shares of Aecon Group from C$45.00 to C$49.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$53.33.

Aecon Group Trading Up 0.5%

Shares of TSE ARE traded up C$0.21 during midday trading on Friday, reaching C$43.97. The company had a trading volume of 287,810 shares, compared to its average volume of 480,258. The stock has a market cap of C$3.01 billion, a PE ratio of 79.95, a price-to-earnings-growth ratio of 18.18 and a beta of 1.36. Aecon Group has a one year low of C$17.06 and a one year high of C$57.72. The firm’s fifty day moving average price is C$47.01 and its 200-day moving average price is C$40.34. The company has a quick ratio of 1.27, a current ratio of 1.16 and a debt-to-equity ratio of 42.80.

Aecon Group (TSE:ARE) last posted its earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share (EPS) for the quarter. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%.The business had revenue of C$1.26 billion during the quarter. On average, equities research analysts anticipate that Aecon Group will post 1.3793321 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John Michael Beck sold 20,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of C$49.77, for a total transaction of C$995,400.00. Following the sale, the director owned 201,417 shares in the company, valued at approximately C$10,024,524.09. This represents a 9.03% decrease in their position. 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 completion of the sale, the insider directly owned 4,801 shares of the company’s stock, valued at approximately C$251,140.31. The trade was a 37.90% decrease in their position. Insiders have sold a total of 23,451 shares of company stock valued at $1,177,370 in the last quarter. 0.82% of the stock is currently owned by insiders.

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.