Aecon Group (TSE:ARE) Price Target Cut to C$44.50 by Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus cut its price target on Aecon from C$46.00 to C$44.50 and kept a "hold" rating, implying roughly a 10.3% downside from the current stock price.
• Other brokers largely raised targets (TD, Canaccord, Raymond James, National Bank), leaving a consensus average price target of C$52.29 and a mixed analyst split of four Buys and seven Holds.
• Aecon traded at C$49.61, reported quarterly EPS of C($0.21) on C$1.26B revenue and a P/E of 215.7, and an insider sold 125,000 shares (a 40.4% reduction of his holdings), which may be relevant to investors.

Aecon Group (TSE:ARE - Get Free Report) had its target price decreased by equities researchers at Stifel Nicolaus from C$46.00 to C$44.50 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' target price indicates a potential downside of 10.30% from the stock's current price.

A number of other equities research analysts have also recently weighed in on the company. TD upped their price target on Aecon Group from C$49.00 to C$59.00 and gave the stock a "buy" rating in a report on Tuesday. Canaccord Genuity Group increased their price target on Aecon Group from C$40.00 to C$52.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. Raymond James Financial increased their price target on Aecon Group from C$44.00 to C$54.00 in a research note on Wednesday. ATB Cormark Capital Markets increased their target price on Aecon Group from C$39.00 to C$42.00 and gave the stock a "sector perform" rating in a research report on Monday, March 30th. Finally, National Bank Financial increased their price target on Aecon Group from C$45.00 to C$48.00 and gave the company an "outperform" rating in a report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$52.29.

Aecon Group Stock Performance

TSE ARE traded down C$0.36 on Thursday, hitting C$49.61. 386,888 shares of the company's stock were exchanged, compared to its average volume of 481,422. The company has a debt-to-equity ratio of 65.17, a current ratio of 1.10 and a quick ratio of 1.27. The firm's 50-day moving average price is C$42.58 and its two-hundred day moving average price is C$34.89. Aecon Group has a fifty-two week low of C$16.16 and a fifty-two week high of C$52.90. The firm has a market cap of C$3.40 billion, a price-to-earnings ratio of 215.70, a P/E/G ratio of 18.18 and a beta of 0.97.

Aecon Group (TSE:ARE - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share (EPS) for the quarter. The business had revenue of C$1.26 billion for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%. On average, research analysts expect that Aecon Group will post 1.3793321 EPS for the current year.

Insider Activity at Aecon Group

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of the stock in a transaction dated Friday, March 27th. The shares were sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the transaction, the director owned 184,200 shares of the company's stock, valued at approximately C$7,670,088. This trade represents a 40.43% decrease in their ownership of the stock. Insiders own 0.82% of the company's stock.

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.

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