ATB Capital Boosts Aecon Group (TSE:ARE) Price Target to C$21.00

Aecon Group (TSE:ARE) had its target price raised by ATB Capital from C$19.50 to C$21.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on the stock. Raymond James lifted their price target on shares of Aecon Group from C$16.00 to C$17.00 and gave the company a market perform rating in a research note on Friday. Stifel Nicolaus boosted their price objective on shares of Aecon Group from C$17.00 to C$18.25 in a research note on Friday. CIBC boosted their price objective on shares of Aecon Group from C$22.00 to C$23.00 and gave the stock an outperform rating in a research note on Friday. BMO Capital Markets boosted their price objective on shares of Aecon Group from C$17.50 to C$18.50 in a research note on Friday. Finally, Paradigm Capital upped their price target on Aecon Group from C$14.00 to C$17.80 and gave the stock a hold rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Aecon Group currently has a consensus rating of Moderate Buy and a consensus price target of C$19.17.

Aecon Group Trading Down 0.4 %

ARE opened at C$16.98 on Friday. The firm has a market cap of C$1.06 billion, a P/E ratio of 8.09, a P/E/G ratio of 18.18 and a beta of 1.16. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$17.40. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. The stock has a 50-day moving average of C$16.21 and a 200 day moving average of C$13.66.

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

Aecon Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 22nd were issued a dividend of $0.19 per share. This is a boost from Aecon Group’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Thursday, March 21st. Aecon Group’s dividend payout ratio is currently 36.19%.

Insiders Place Their Bets

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

About Aecon Group

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.