Aecon Group (TSE:ARE) Hits New 1-Year High – Here’s Why

Aecon Group Inc. (TSE:ARE)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$38.56 and last traded at C$38.51, with a volume of 125726 shares trading hands. The stock had previously closed at C$37.94.

Analyst Ratings Changes

ARE has been the topic of a number of research analyst reports. Raymond James Financial downgraded shares of Aecon Group from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$26.00 to C$33.00 in a report on Friday, October 31st. Royal Bank Of Canada lifted their price objective on shares of Aecon Group from C$26.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. Desjardins downgraded shares of Aecon Group from a “buy” rating to a “hold” rating and increased their target price for the company from C$22.00 to C$35.00 in a research report on Friday, October 31st. Canaccord Genuity Group raised their price target on shares of Aecon Group from C$29.00 to C$40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, BMO Capital Markets lifted their price target on shares of Aecon Group from C$25.00 to C$30.00 in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$33.43.

Aecon Group Stock Up 1.5%

The firm has a market capitalization of C$2.44 billion, a P/E ratio of 275.07, a PEG 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. The stock has a 50 day moving average of C$34.15 and a 200-day moving average of C$28.30.

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.