Aecon Group (TSE:ARE) Price Target Raised to C$75.00

Aecon Group (TSE:ARE) had its target price raised by TD from C$66.00 to C$75.00 in a research report released on Monday,BayStreet reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently commented on the stock. Raymond James Financial raised their price objective on shares of Aecon Group from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Desjardins upped their target price on shares of Aecon Group from C$58.00 to C$60.00 and gave the stock a “hold” rating in a research report on Monday. National Bank Financial lifted their price target on shares of Aecon Group from C$66.00 to C$70.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Stifel Nicolaus boosted their price target on Aecon Group from C$66.00 to C$75.00 and gave the stock a “buy” rating in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Aecon Group has an average rating of “Moderate Buy” and a consensus price target of C$60.92.

Aecon Group Trading Down 0.9%

TSE:ARE opened at C$56.31 on Monday. Aecon Group has a 1 year low of C$25.05 and a 1 year high of C$59.96. 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 stock has a fifty day moving average price of C$50.00 and a two-hundred day moving average price of C$45.59. The stock has a market capitalization of C$3.86 billion, a price-to-earnings ratio of -73.13, a PEG ratio of 18.18 and a beta of 0.88.

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

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, October 2nd were given a $0.1925 dividend. The ex-dividend date was Tuesday, September 22nd. This represents a $0.77 annualized dividend and a dividend yield of 1.4%. Aecon Group’s payout ratio is currently -99.68%.

Insider Activity

In other Aecon Group news, insider Steven Neil Nackan sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the completion of the transaction, the insider directly owned 8,035 shares in the company, valued at approximately C$365,994.25. This trade represents a 35.90% decrease in their position. Also, Director Scott Stewart bought 4,455 shares of the business’s stock in a transaction on Friday, August 28th. The shares were acquired at an average price of C$44.89 per share, with a total value of C$199,984.95. Following the transaction, the director owned 24,484 shares of the company’s stock, valued at C$1,099,086.76. The trade was a 22.24% increase in their position. Insiders sold a total of 6,500 shares of company stock worth $296,155 over the last quarter. Insiders own 0.82% of the company’s stock.

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.