Aecon Group (TSE:ARE) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Aecon Group Inc. (TSE:ARE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$37.40 and traded as high as C$46.30. Aecon Group shares last traded at C$45.26, with a volume of 415,529 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ARE shares. Desjardins lifted 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. TD lifted their price target on Aecon Group from C$49.00 to C$59.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Jefferies Financial Group increased their price objective on Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Stifel Nicolaus cut their target price on shares of Aecon Group from C$46.00 to C$44.50 and set a “hold” rating on the stock in a report on Thursday, April 30th. Finally, Canaccord Genuity Group upped their price target on shares of Aecon Group from C$52.00 to C$56.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Aecon Group has an average rating of “Hold” and a consensus target price of C$52.29.

Aecon Group Stock Down 0.1%

The firm has a 50 day simple moving average of C$46.14 and a two-hundred day simple moving average of C$37.40. The company has a market capitalization of C$3.10 billion, a PE ratio of 82.29, a P/E/G ratio of 18.18 and a beta of 1.16. The company has a current ratio of 1.16, a quick ratio of 1.27 and a debt-to-equity ratio of 42.80.

Aecon Group (TSE:ARE) last released its quarterly earnings results 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 year.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a $0.1925 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.77 annualized dividend and a dividend yield of 1.7%. Aecon Group’s payout ratio is presently 138.64%.

Insider Activity

In other Aecon Group news, insider Ernest Chan sold 521 shares of Aecon Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of C$55.09, for a total value of C$28,701.89. Following the sale, the insider owned 11,003 shares of the company’s stock, valued at approximately C$606,155.27. The trade was a 4.52% decrease in their position. Also, Director Eric Stuart Rosenfeld sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the transaction, the director owned 184,200 shares in the company, valued at C$7,670,088. The trade was a 40.43% decrease in their position. Over the last ninety days, insiders sold 148,451 shares of company stock valued at $6,382,370. Company insiders own 0.82% of the company’s stock.

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.