Aecon Group (TSE:ARE) Given New C$42.00 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark raised its price target on Aecon Group to C$42.00 from C$39.00 and maintained a sector perform rating, implying only about a 0.55% upside from the current price.
• Multiple analysts have lifted targets (ranging up to C$52.00) but ratings are mixed—four buys and six holds—leaving a MarketBeat consensus rating of Hold with a consensus target of C$42.38.
• Aecon trades around C$41.77 with a market cap of C$2.68B, a high P/E of 181.61, a net margin of 0.28% and a debt-to-equity ratio of 65.17, indicating thin profitability and leverage despite recent price-target upgrades.

Aecon Group (TSE:ARE - Get Free Report) had its price target hoisted by research analysts at ATB Cormark Capital Markets from C$39.00 to C$42.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective would suggest a potential upside of 0.55% from the stock's current price.

A number of other equities analysts have also recently commented on the company. Desjardins raised their target price on Aecon Group from C$43.00 to C$45.00 and gave the stock a "hold" rating in a report on Monday. Canaccord Genuity Group upped their price target on Aecon Group from C$40.00 to C$52.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Raymond James Financial raised their price objective on Aecon Group from C$33.00 to C$41.00 and gave the stock a "market perform" rating in a research note on Tuesday, March 10th. Royal Bank Of Canada boosted their price objective on Aecon Group from C$30.00 to C$41.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 10th. Finally, National Bank Financial increased their target price on shares of Aecon Group from C$35.00 to C$45.00 and gave the stock an "outperform" rating in a report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Aecon Group presently has a consensus rating of "Hold" and a consensus target price of C$42.38.

Aecon Group Stock Performance

Shares of TSE ARE traded down C$0.02 during midday trading on Monday, hitting C$41.77. 278,558 shares of the company's stock traded hands, compared to its average volume of 494,785. The firm has a fifty day moving average of C$38.07 and a 200 day moving average of C$31.49. Aecon Group has a 1 year low of C$15.21 and a 1 year high of C$44.71. The company has a debt-to-equity ratio of 65.17, a quick ratio of 1.27 and a current ratio of 1.10. The stock has a market capitalization of C$2.68 billion, a price-to-earnings ratio of 181.61, a price-to-earnings-growth ratio of 18.18 and a beta of 1.10.

Aecon Group (TSE:ARE - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported C$0.52 earnings per share (EPS) for the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. The company had revenue of C$1.54 billion during the quarter. On average, analysts forecast that Aecon Group will post 1.3793321 earnings per share for the current year.

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.

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