CIBC Boosts Aecon Group (TSE:ARE) Price Target to C$23.00

Aecon Group (TSE:ARE) had its price objective raised by stock analysts at CIBC from C$22.00 to C$23.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price target would indicate a potential upside of 35.21% from the stock’s previous close.

ARE has been the subject of several other research reports. Royal Bank of Canada upped their price target on Aecon Group from C$10.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 7th. Desjardins upped their price target on Aecon Group from C$16.00 to C$20.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. TD Securities upped their price target on Aecon Group from C$14.00 to C$18.50 and gave the stock a “hold” rating in a research note on Friday, March 8th. BMO Capital Markets upped their price target on Aecon Group from C$17.50 to C$18.50 in a research note on Friday. Finally, Canaccord Genuity Group increased their target price on Aecon Group from C$14.00 to C$26.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$19.17.

Aecon Group Stock Down 0.6 %

TSE ARE traded down C$0.10 on Friday, reaching C$17.01. The stock had a trading volume of 219,021 shares, compared to its average volume of 325,537. The business has a 50 day moving average price of C$16.08 and a 200 day moving average price of C$13.54. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. Aecon Group has a 1 year low of C$8.42 and a 1 year high of C$17.40. The company has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last issued its earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.04. The firm had revenue of C$846.59 million for the quarter, compared to the consensus estimate of C$1.03 billion. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. On average, analysts forecast that Aecon Group will post 0.7603047 EPS for the current fiscal year.

Insider Transactions at Aecon Group

In related news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average cost of C$13.07 per share, with a total value of C$55,299.17. In related news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average cost of C$13.07 per share, with a total value of C$55,299.17. Also, Director Stuart Lee bought 7,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of C$16.33 per share, with a total value of C$114,310.00. 1.72% of the stock is currently owned by insiders.

Aecon Group Company Profile

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.