Aecon Group (TSE:ARE) Given New C$44.00 Price Target at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its target on Aecon to C$44.00 (from C$38.75) while keeping a "hold" rating, implying about a 5.09% upside from the stock's current price.
• Multiple brokers have also lifted targets recently—TD Securities to C$49 (buy), Desjardins and National Bank to C$45, RBC to C$41—leaving an average price target of C$43.58 and a consensus rating of "Hold" (four Buy, six Hold).
• Aecon shares traded at C$41.87 (up ~1.1%) with a market cap of C$2.68B; the company reported C$0.52 EPS on C$1.54B revenue last quarter but carries a high PE ratio of 182.04, suggesting elevated valuation relative to earnings.

Aecon Group (TSE:ARE - Get Free Report) had its target price boosted by equities research analysts at Canadian Imperial Bank of Commerce from C$38.75 to C$44.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Canadian Imperial Bank of Commerce's price target indicates a potential upside of 5.09% from the stock's current price.

A number of other equities analysts also recently commented on ARE. Royal Bank Of Canada boosted their target price on shares of Aecon Group from C$30.00 to C$41.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 10th. ATB Cormark Capital Markets raised their price target on Aecon Group from C$39.00 to C$42.00 and gave the company a "sector perform" rating in a research note on Monday. TD Securities upped their price objective on Aecon Group from C$47.00 to C$49.00 and gave the stock a "buy" rating in a research report on Monday. Desjardins increased their price objective on Aecon Group from C$43.00 to C$45.00 and gave the company a "hold" rating in a report on Monday. Finally, National Bank Financial raised their target price on Aecon Group from C$35.00 to C$45.00 and gave the stock an "outperform" rating in a research report on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Aecon Group has an average rating of "Hold" and an average price target of C$43.58.

Aecon Group Stock Up 1.1%

Shares of TSE ARE traded up C$0.44 during mid-day trading on Tuesday, hitting C$41.87. The company had a trading volume of 239,855 shares, compared to its average volume of 494,324. The company has a market capitalization of C$2.68 billion, a PE ratio of 182.04, a price-to-earnings-growth ratio of 18.18 and a beta of 1.10. The business's 50-day simple moving average is C$38.21 and its 200 day simple moving average is C$31.61. 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 current ratio of 1.10 and a quick ratio of 1.27.

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

Aecon Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.