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

Aecon Group Inc. (TSE:ARE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$38.17 and last traded at C$38.06, with a volume of 50279 shares changing hands. The stock had previously closed at C$37.61.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. ATB Cormark Capital Markets downgraded Aecon Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$28.00 to C$32.00 in a report on Friday, October 31st. Royal Bank Of Canada upped their price target on Aecon Group from C$26.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Canaccord Genuity Group boosted their price objective on shares of Aecon Group from C$29.00 to C$40.00 and gave the stock a “buy” rating in a report on Friday, October 31st. BMO Capital Markets raised their price objective on shares of Aecon Group from C$25.00 to C$30.00 in a report on Friday, October 31st. Finally, Canadian Imperial Bank of Commerce lowered Aecon Group from an “outperform” rating to a “hold” rating and increased their price objective for the company from C$29.00 to C$35.00 in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$33.43.

Aecon Group Stock Performance

The company’s 50 day moving average price is C$33.50 and its 200-day moving average price is C$27.68. The stock has a market cap of C$2.40 billion, a P/E ratio of 270.50, a price-to-earnings-growth ratio of 18.18 and a beta of 1.36. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19.

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.