Stifel Nicolaus Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price objective upped by equities research analysts at Stifel Nicolaus from C$66.00 to C$75.00 in a note issued to investors on Monday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus‘s target price would suggest a potential upside of 44.23% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. National Bank Financial upped their price target on Aecon Group from C$66.00 to C$70.00 and gave the stock an “outperform” rating in a report on Monday. Raymond James Financial lifted their price objective on Aecon Group from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Desjardins boosted their price objective on Aecon Group from C$58.00 to C$60.00 and gave the stock a “hold” rating in a research report on Monday. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Aecon Group has a consensus rating of “Moderate Buy” and a consensus price target of C$60.00.

Aecon Group Stock Up 5.6%

Shares of TSE:ARE traded up C$2.77 during trading on Monday, hitting C$52.00. The company’s stock had a trading volume of 450,212 shares, compared to its average volume of 468,965. Aecon Group has a fifty-two week low of C$25.05 and a fifty-two week high of C$59.96. The business has a 50 day moving average price of C$49.31 and a two-hundred day moving average price of C$45.25. The company has a debt-to-equity ratio of 56.97, a quick ratio of 1.27 and a current ratio of 1.10. The company has a market capitalization of C$3.57 billion, a PE ratio of -67.53, a P/E/G ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, October 29th. The company reported C$0.86 earnings per share (EPS) for the quarter. The business had revenue of C$1.92 billion for the quarter. Aecon Group had a negative return on equity of 5.32% and a negative net margin of 0.83%. As a group, research analysts expect that Aecon Group will post 1.38 EPS for the current fiscal year.

Insider Transactions at Aecon Group

In other Aecon Group news, insider Steven Neil Nackan sold 4,500 shares of Aecon Group stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the completion of the sale, the insider directly owned 8,035 shares of the company’s stock, valued at C$365,994.25. The trade was a 35.90% decrease in their position. Also, Director Scott Stewart acquired 4,455 shares of the stock in a transaction dated Friday, August 28th. The shares were acquired at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the transaction, the director owned 24,484 shares in the company, valued at approximately C$1,099,086.76. This represents a 22.24% increase in their position. Insiders have sold a total of 7,500 shares of company stock valued at $343,875 over the last ninety days. 0.82% of the stock is owned by company insiders.

Aecon Group Company Profile

Aecon Group Inc (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment.