TD Securities Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

Key Points

• TD Securities has raised Aecon Group's target price from C$22.00 to C$23.00, indicating a potential upside of 19.79%.
• Despite the positive outlook from TD Securities, other analysts have lowered their ratings, with National Bank Financial changing their recommendation from "strong-buy" to "hold".
• The stock is currently trading at C$19.20, down 0.7%, with a market cap of C$1.21 billion and insider purchases totaling C$419,159 in the last quarter.

Aecon Group (TSE:ARE - Free Report) had its price target lifted by TD Securities from C$22.00 to C$23.00 in a report released on Tuesday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other brokerages have also commented on ARE. Raymond James Financial lowered their price objective on shares of Aecon Group from C$23.00 to C$21.00 in a research report on Monday, April 28th. Stifel Canada upgraded Aecon Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Royal Bank Of Canada dropped their price objective on shares of Aecon Group from C$18.00 to C$17.00 in a report on Friday, April 25th. CIBC lowered their price target on shares of Aecon Group from C$31.00 to C$24.00 in a research report on Friday, April 25th. Finally, National Bank Financial downgraded Aecon Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 14th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Aecon Group presently has a consensus rating of "Buy" and an average target price of C$22.70.

Aecon Group Trading Up 0.6%

Shares of ARE stock traded up C$0.11 during trading hours on Tuesday, hitting C$19.95. 187,493 shares of the company were exchanged, compared to its average volume of 416,196. The company has a 50 day simple moving average of C$19.72 and a two-hundred day simple moving average of C$19.76. Aecon Group has a fifty-two week low of C$15.21 and a fifty-two week high of C$29.70. The firm has a market cap of C$1.26 billion, a P/E ratio of -19.63, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19.

Aecon Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, June 23rd. Aecon Group's dividend payout ratio (DPR) is -74.76%.

Insider Transactions at Aecon Group

In other Aecon Group news, Director Leslie Compton Kass purchased 6,325 shares of Aecon Group stock in a transaction that occurred on Tuesday, June 10th. The shares were bought at an average price of C$19.44 per share, for a total transaction of C$122,953.83. Also, Director Deborah Susan Stein bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were acquired at an average price of C$18.90 per share, with a total value of C$94,500.00. Over the last quarter, insiders have purchased 21,825 shares of company stock worth $419,159. Company 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.